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    2. See Tenopir and King (2000), Chapter 13, for a review of this literature. An alternative explanation for journal price inflation has been offered by Lieberman, Noll, and Steinmuller in their 1992 working paper, The Sources of Scientific Journal Price Increase, Center for Economic Policy Research, Stanford University. They argue that entry by new titles over time has lowered circulation for existing journals, forcing the latter to raise prices to cover fixed costs. They estimate a supply and demand system for a set of journals and find that supply is downward sloping, consistent with this notion that individual titles exhibit scale economies. However, after controlling for this and other factors there remains a significant inflation residual that is unexplained by the model.


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