Pay what you want (or PWYW) is a pricing strategy where buyers pay their desired amount for a given commodity, The open access publishing movement has received strong support from scientists, lawmakers, and funding institutions. Many publishers are reacting to this demand by offering open access journals. However, there is an ongoing debate on how open access publishing models should be financed.
Pricing is a fundamental aspect of financial modeling and is one of the four Ps of the marketing mix. (The other three aspects are product, promotion, and place).
When setting individual prices, decision-makers require a solid understanding of pricing economics, notably break-even analysis, as well as an appreciation of the psychological aspects of consumer decision-making including reservation prices, ceiling prices and floor prices. The marketing literature identifies literally hundreds of pricing tactics.
Differential pricing is also known as flexible pricing, multiple pricing or price discrimination is where different prices dependent on the service provider's assessment of the customer's willingness or ability to pay. There are various forms of price difference including: the type of customer, quantity ordered, delivery time, payment terms, etc.
Penetration pricing is an approach that can be considered at the time of market entry. In this approach, the price of a product is initially set low in an effort to penetrate the market quickly. Low prices and low margins also act as a deterrent, preventing potential rivals from entering the market since they would have to undercut the low margins to gain a foothold.
Authors of accepted papers pay article processing charges (APCs) of several hundred to several thousand U.S. dollars.
PWYW is a pricing model where sellers delegate the full pricing power to buyers. So far, PWYW has mainly been applied in service industries (for example, restaurants, theaters), but also for the sale of digital products like software). More recently, several publishers of open access journals like Cogent OA (belonging to the Taylor & Francis Group), edp Sciences, and Thieme Publishers have started to experiment with the PWYW model for APCs of open access journals. More specifically, Cogent OA empowers authors to decide how much they want to pay for their open access publication in 15 broad journals covering different domains of academic research. Likewise, SICOT-J (edp sciences), a multidisciplinary journal covering the fields of surgery and engineering, and The Surgery Journal (Thieme Publishers), an open access journal for surgeons and trainee surgeons of all disciplines, have started to delegate pricing power to their contributing authors.
Freedom Article Publishing Charges, Pioneered by Cogent OA, allow authors to choose how much to contribute towards the publication of their research in an open access journal.
Authors with funding, institutional support, or from commercial organizations should select recommended Article Processing Charge (APC) of 1927 USD.
Authors without direct funding or support should talk to their librarian and faculty about option that maybe available: Your institution may be part of the Taylor & Francis pre-payment membership scheme, which also covers Cogent OA publications. So, your APC may already be covered.
Alternatively, most funding bodies will allow authors to use part of their research grant to cover the cost of article publishing charges.
Cogent OA operates a Freedom APC model; whereby, if you don’t have funds available to you, you can choose to pay what you can. In order to support sustainable open access publishing, a minimum APC applies to ensure cover the costs of the peer-review process, copyediting, typesetting, publication on website, marketing, and indexing in major databases. To ensure the integrity of peer review, team of editors and reviewers receive no information about payments at any stage.
Journal of Health Science and Development is a new Open Access journal having its first issue published on March. 30th, 2018.
Our Pricing policy is very simple: Pay what you want (or PWYW).
After the peer review process, we may send you an acceptance letter that your manuscript was approved for publication.
In this letter we will give you the suggested price. You can accept to it. You can decide to pay less or even not to pay. You can decide to pay more. It is your decision. It will not change our acceptance of your article for publication. There will be no difference between countries. There will be no difference between hospitals or institutions.
It will be the REAL PWYW or in its other names: "pay what you wish", "pay what you like", "pay as you want", "pay what you feel", "pay as you wish", "pay as you like", "pay what you will", "pay as you will" and "Pay what you can".