1. Investigating Oligopoly in the Reference Publishing Market: Observations and Reflections Dr. Matthew Saxton, Assistant Professor, University of Washington Original Research: UCLA, Winter Quarter 2000

2. Oligopoly - Definition “In the case of oligopoly a small number of companies supply the major portion of an industry’s output... Thus, the actions of the individual firms have an appreciable effect on their competitors.” McGraw-Hill Encyclopedia of Economics, 2nd ed.

3. Characteristics of Oligopoly A form of imperfect competition High obstacles to entry Stable prices Concentrated vs. differentiated oligopoly The New Palgrave: A Dictionary of Economics

4. Library Journal Reference 1999 Supplement: November 15, 1998 183 Reference Publishers 10 non-profit associations 11 university presses 74 small specialty presses 88 large presses

5. Sources of Information Directory of Corporate Affiliations Books in Print IAC General Business File

6. Oligopoly? Just three companies (listed below) own 25% (N=22) of those 88 presses listed in Library Journal; plus an additional 18 presses not listed: – Pearson PLC – Reed Elsevier PLC – The Thomson Corporation

7. Pearson PLC Charles Scribner’s Sons Dutton G.K. Hall Library Reference Howard W. Sams Jossey-Bass Macmillan Multivolume Reference Macmillan Single Volume Reference Penguin Putnam Inc. Plume Que Corporation Schirmer Books Simon & Schuster Twayne Publishers

8. Reed Elsevier PLC R. R. Bowker Chilton Research Services Congressional Information Services Elsevier Science Inc. Excerpta Medica Greenwood Press The Lancet LEXIS-NEXIS Inc. Marquis Who’s Who Martindale-Hubbell OAG Reed Elsevier Inc. Shepard’s

9. The Thomson Corporation Gale Information Access Company Institute for Scientific Information Jane’s Information Group Medical Economics Company Peterson’s Predicasts Primary Source Media Research Institute of America St. James Press TAFT Group UXL Visible Ink Press West Information Publishing

10. Areas of Competition Reed Elsevier vs. Thomson in: – Business – Law – Medicine – Science Pearson vs. Thomson in: – Literature

11. Business Reference Dow Jones Dun & Bradstreet – Moody’s McGraw-Hill – Standard & Poor’s

12. Additional Interesting Bedfellows Bertelsmann and Random House Berkshire Hathaway and World Book Inc. Encyclopedia Britannica and Merriam Webster Lagardere and Grolier

13. Notable Independents H. W. Wilson Hoover’s Inc. Rand McNally

14. Periodical Indexing: Five Competing Publishers IAC = Searchbank EBSCO Inc. = Ebscohost H. W. Wilson = Wilson Online U.M.I. = Proquest OCLC = First Search

15. Conclusions Evidence does not conclusively suggest that an oligopoly in reference publishing exists. Further research – Comparative, trend data needed – Examination of subject domains – Examination of frequently purchased titles – Examination of frequently used titles

16. Further Reading Mary Brandt Jensen, “Who Owns What Now? - Law Publisher Genealogy,” Against The Grain 10 (April 1998): 52-54.