N – How much does peer review cost?

UK academics spend 2-3 million hours a year reviewing each other’s work, according to a report by the Joint Information Systems Committee (JISC) Collections. The cost of this time to UK universities is estimated at £110-165 million a year, in addition to the £30 million spent on editors and editorial boards, and the £110 million spent on journal subscriptions. The report urges publishers to recognise the contribution that universities make to the publishing process and to see universities as partners rather than customers.