“In Steffen’s view, new open access payment models are needed to make open access implementation practical. The journal he co-edits, EER Plus, was launched in 2019 as the OA spin-off of Europe’s oldest general-interest economics journals: European Economic Review (EER). Its quality and reputation are such that it rejects about 80 percent of papers.
As Steffen describes it, the EPC model his journal is piloting offers an affordable option for researchers with limited access to funds. The charge is set low – at €527, where some article processing charges will be upwards of €4,000 – and unlike a submission fee, the author only pays if their paper is selected for peer review. However, that fee is non-refundable if the article is rejected at the peer review stage….”