DE‐MYSTIFYING MUTUAL FUNDS

The possibility of new titles by other publishers entering the journals marketplace defines an upper limit on journal prices. An extraordinary high price (with little difference in production cost) should signal the existence of a market opportunity to other publishers. To be successful, the new title must attract sales away from other titles. The editorial policies, and so the content, play an important role. Price should play a role as well. If, in fact, some high‐priced journals are earning their owners extraordinary profits, we should expect university presses, professional associations, and other commercial publishers to produce new titles or manuever existing titles into closer price competition.