Open Access as a Crude Solution to a Hold-Up Problem in the Two-Sided Market for Academic Journals by Mark J. McCabe, Christopher M. Snyder :: SSRN

"We compare the efficiency and profitability of traditional versus open access under various market structures (monopoly, Bertrand competition) and extensions (non-profit journals, bundling, hybrid pricing), using our theoretical findings to understand the evolution of the market for academic journals in the Internet age."