John W. Houghton has published "The Costs and Potential Benefits of Alternative Scholarly Publishing Models" in the latest issue of Information Research.
Here's an excerpt:
The costs and benefits associated with alternative scholarly publishing models demonstrate that research and research communication are major activities and the costs involved are substantial. Our preliminary analysis of the potential benefits of more open access to research findings suggests that returns to research are also substantial and that different scholarly publishing models might make a material difference to the returns realised as well as the costs faced. It seems likely from this preliminary analysis that more open access could have substantial net benefits in the longer term and, while net benefits may be lower during a transitional period they would be likely to be positive for both open access journal publishing and self-archiving alternatives.