Elsevier numbers illustrate - once again - just how much more sense open access makes!
“Elsevier today wrote a letter to the mathematics community, hoping to woo scholars away from the still-growing boycott, The Cost of Knowledge, now that Elsevier has publicly disavowed its support for the Research Works Act... In its letter, Elsevier commits to lowering the costs of articles in its mathematics journals to at or below $11 US per article. This sounds like a pretty reasonable step when you consider that this is just over a quarter of what Elsevier currently charges. However, when you compare this with the potential of open access, you can see how ludicrous this model really is today...  As a for-profit corporation reporting to shareholders, I think it is reasonable to assume that Elsevier would not make such a commitment unless this cost was sufficient to not only cover costs, but return a profit. Does this mean that the current $37.95 charged for one article in Elsevier's Advances in Applied Mathematics is close to 4 times more than what Elsevier itself feels is necessary to recoup costs and make a profit? This does seem consistent with Elsevier's high profit rates.  If every one of the 126 members of the Association of Research Libraries were to pay $11 for an article in mathematics, the total would be $1,386. That's higher than the article processing fee for a fully open access article at PLoS ONE at $1,350 per article. In other words, a high quality, U.S.-based publisher working out of San Francisco (not a cheap place to live or work, I hear), can provide full open access for everyone in the world at less than it would cost to have one copy of an article at every large North American research library, at Elsevier's proposed reduced rate which is just over a quarter of what they currently charge....  Another scenario: if an undergrad class of 150 students were required to buy a $11 mathematics article to read for class on a pay-to-read basis, the cost would be $1,650. In other words, the pay-per-view costs for just one class to read an article would exceed the PLoS ONE article processing fee by $300. Multiply that by all the millions of students in the world, and it's easy to see how the Elsevier model means either outrageous costs or needless barriers to mathematical knowledge, or, more likely (as things stand now) some of both...”