 So, we've been commissioned this task, this tender, and our aim here is to identify a sustainable model and when we're talking about a sustainable model, we focus on economic and financial sustainability. Okay, so, the aim of gathering together this team is to identify a sustainable model that is methodologically consistent to what an economist would call a sensible way to manage an infrastructure. Okay, our team consists of economists and econometricians, archive specialists, accountants, and a lawyer, institutional analyst that gives us the consistency of our method and at the end of the day our proposals with the existing legal framework so that we can talk to the other team who is analyzing the legal framework. Okay, now the two main objectives is to achieve an accurate estimation of the benefits and the costs of this infrastructure and based on these benefits and costs and when we are talking in economics about benefits and costs, we are talking about how much it costs to build the infrastructure, to run the infrastructure, and the benefits of any users and the users could be individuals, could be organizations, could be institutions, any relevant stakeholder and based on this benefit and cost structure which is you should think about it as time series of benefits and costs because this sustainable model, sustainable means that it can live for many periods of time. So we need the dynamic benefits, the time series of benefits, the time series of costs that can support this infrastructure in a sustainable way. So how are we going to do it? Identify the stakeholders and measure in monetary terms the benefits they derive from using the infrastructure. We're going to identify the cost of building the infrastructure, operating, maintaining the infrastructure and then we're going to put this together in a dynamic and cross-sectional way because it will be different for different stakeholders and different repositories. Compare the two and see if the costs are lower, higher, equal, done and benefit compared to the benefits and we are going to do this over time. And once we identify whether it is something that is so increasing social welfare, that the social benefits, the benefits of the involved stakeholders are higher than the cost of sustaining or building, sustaining and investing the infrastructure, then we're going to identify who is willing to pay, for what services, how much, what is a sustainable pricing and business model for this infrastructure. We have the following deliverables. We've constructed the methodology and it's already uploaded in the Wiki and I will try to show it, to show the whole methodology in one slide. We have done the stakeholders analysis and the person who leads the stakeholders analysis is Oya from Cornell University, Oya. We have started working on the cost analysis. I will introduce the explicit method which is a survey based method that then uses the survey results, analyzes the results using conometric analysis in order to identify the stakeholders valuation of the services of this infrastructure. And we're talking about monetary valuation and then we're going to do the cost benefit analysis and based on the cost benefit analysis we will be able to identify how much the infrastructure and services cost, who values the infrastructure and services, how much they are willing to pay, what are the revenues, what are the costs over time and based on this we define a sustainable business model. Unless you do all this you cannot really identify a sustainable business model and because I knew that I wouldn't have time to guide you through my four slides I tried to put everything in one slide. Let's try to make sense of this. Okay we have the open air infrastructure, open air plus and we have it because somebody believes that it creates benefits to stakeholders but it also costs something. Who are the stakeholders? This question will be answered through the stakeholder database that we've created, through the stakeholders mapping and prioritization and analysis that we already contacted. Based on the results of the mapping we are going to introduce a sample selection method. Sample selection for both to identify the sample that we will apply the stakeholders questionnaire which is a questionnaire that we've put together in order to identify the services that the stakeholders identified in our database value in order to understand what the different stakeholders get from open air infrastructure and then in order to identify how much different stakeholders are willing to pay for different services we're going to use the so-called choice experiment methodology which is an econometric methodology that allows you to derive willingness to pay for specific stakeholders for specific services. In principle in economics if you don't have any diversions from the preferred market this should be equal to the margin of willingness to pay should be equal to price but leave this aside for now. On the other side you have the costs, you have investments, operation and maintenance which more or less summarize the different costs that are involved. These cost identification and estimated figures for different aspects of the infrastructure of operating and sustaining the infrastructure will be derived from the cost point we've put together. And then when we have the benefits and the cost we will then try to identify different sources of revenues. These are examples EU grants, institution contributions mainly up to now they subsidize in initial investment they give the initial investment but there are other potential revenues like revenues from providing access to articles from subscriptions, from contributions, discovery services, research funders and so on. And at the end of the day we need a financial net present value that is bigger than zero. These are the revenues and costs in each period of time discounted by I which is the interest rate that is the opportunity cost of capital the fact that you decided to invest in this form of capital and not in some other. So this should give you if your project is sustainable a value that is higher than zero. If it's not and you your revenues are not enough to cover your costs but you see together value of the services that is the benefits here are higher than the cost but revenues are not higher than the cost then the cost benefit analysis will identify the most efficient solutions for subsidizing this infrastructure from EU grants and institutional contributions and based on these results and only if you do or if you go through each and every step of this methodology you can identify pricing and financial schemes and the relevant business model for sustaining any infrastructure. It doesn't have to be a science infrastructure it can be any infrastructure. Our project results are all available on the project wiki okay so you can go there and you can find clicking a sustainability group you can find the proposal minutes of meetings the bibliography the presentations and then the stakeholders database the stakeholders description results from stakeholders analysis the stakeholders questionnaire that will give you identify the most important services for the stakeholders and also the cost questionnaire. Moreover the stakeholders database is also important because here we have scientists and researchers research funds research centers publishers scholarly societies and so on we have 15 different groups of stakeholders okay and you can actually go there and and suggest revisions or additions we also have a description of the stakeholder and again see again is available on the wiki and here we have categorized and mapped the stakeholders according to their contribution to the legitimacy of their claims willingness to engage influence and necessity of involvement and if I go a bit further down you can see that this categorized categorization can enable us to map the stakeholders according to their importance according to different criteria and here I put on the vertical axis expertise and on the horizontal axis willingness to pay and then what we did is that we mapped each of the 15 different categories of the stakeholders on this map why in order to understand their importance with regards to the open air open access initiative and sorry about this and by mapping the stakeholders what can you achieve at the end of the day when you are going to implement the questionnaires the stakeholders questionnaire the cost questionnaire and the willingness to pay questionnaire the questionnaire that we try to identify willingness to pay you can create a sample selection method okay your sample of who which stakeholders you are going to approach that is from the population of stakeholders you are going to select the sample will be faced on this prioritization from these stakeholders analysis who is important and who is not and at the end of the day you get a map with the different stakeholders when you then translate into weight into the sample selection a method and then once you selected a representative sample of the population of interest which is based on these weights you are going to implement the two questionnaires the first questionnaire is trying to identify the explicit cost of of this infrastructure repository annual cost coordination and national open access at this annual cost cost of infrastructure services and these are the main categories and if you go to the questionnaire these are electronic based questionnaires you can see that the questionnaire allows you to differentiate between investment cost and running a maintenance cost which are important for economic analysis and cost benefit analysis and this is the cost questionnaire and I would ask we will contact you if you are in the sample that we selected and ask you to respond to this questionnaire the first feedback that we have is that this questionnaire is is doable first of all where people can respond to it the people who are managing these infrastructures can respond to it and if you see at the end of the day we say please indicate how you expect to finance the above cost so we get an initial reaction with regards to where the revenues are coming from and these are reactions from the people who now are managing repositories okay revenue from posting articles and access to article subscriptions and so on and then from the cost questionnaire we go to the stakeholders questionnaire which is a bigger sorry about driving you back and forth but I want you to have a glimpse of the stakeholders questionnaire as well uh so let me show you part of the stakeholders questionnaire so first we introduce open open air initiative to the stakeholders because this will go to people that are not familiar with open air uh and we tell them a short introduction we give them a short introduction to the aims of scope and so on and then we start asking questions how will how familiar you are with this initiative and then in order to try to understand the the connection of the stakeholder with the open access initiative and then we ask the categories whether it's a university a library and open access and so on and then we ask questions about how does open air support your organization and what is the service policy gap that open air can feel how do you see yourself contributing to open air and in general all these are questions in order to give us a first view which we can analyze statistically on the value on the on on the use of open air from the different stakeholders so this will allow us a first mapping of the stakeholders preferences priorities benefits service important services and what they they think about the financing of this infrastructure and once we have the results from the implementation of this questionnaire we will uh uh we will okay let me put the slideshow here once we have the stakeholders questionnaire we will be ready to put together the willingness to pay questionnaire we will be ready to evaluate to estimate how much the different stakeholders value in monetary terms the services they derive from the existence of open air it has not been done in the literature before and we are going to do this using a state of the art methodology that is called choice experiment and the choice experiment is a survey based questionnaire that allows you to analyze the preferences of stakeholders it allows you to extract the total economic value different stakeholders are tribute to different services or goods and the way you do that and the total economic value includes use values and non use values and non use values might be positive externalities from having open access to scientific results that are not going to come today but they are coming they will come into the future but they are valued by the society of the relevant stakeholders today so there are many values that are involved in sustaining these infrastructures and unless we are able to identify them and measure them we will not be able to strongly strongly support the significance and even current subsidization from governments and the european union of these infrastructures and this choice experiment methodology actually uses some mathematical algorithms to present the person you are implementing the questionnaire to the respondent with different levels and quality of the different services that will be identified from the stakeholders questionnaire so if you from the stakeholders questionnaire if you identify five very important services that stakeholders use from open air infrastructure then you can present different cards to the stakeholder to the respondent with different levels of quality and quantity of these services and then use a price vehicle and asking to choose which combination of services and price they prefer and in this way you can buy you not just open air infrastructures and hold but you can put a value on the different services and on the different levels and quality of services so the choice experiment has been used extensively and has been used to pack up cases in courts for valuing public goods valuing in monetary terms public goods and nowadays it's within the european guidelines of course benefit analysis you explicitly it's explicitly says that you need to use valuation methods in order to support any subsidization of public infrastructures of public goods that are not currently sustainable but they produce important socioeconomic benefits in most for example environmental directives you get exceptions and extensions for implementing the directive by presenting results from these valuation studies that give you a positive cost benefit analysis so if the cost benefit analysis is positive then economically you should sustain this infrastructure you should sustain this public good but it might be the case that you cannot really financially currently be able to sustain it without subsidization so there's where the government comes in and says this has important social benefits for this community so i will subsidize it because it sustains these benefits at the moment what state are we at well we completed the methodology we've completed the stakeholders questioner we completed the cost questioner we completed the prioritization of stakeholders and completed the sample selection methodology the next week we are going to start with the implementation of the different questioners the analysis of data and by february we will be ready to put together the valuation questioner the choice experiment that will give us the monetary benefits and hopefully april we have the econometric analysis have the benefits already have the cost from the implementation of the cost questionnaire and be able to do the cost benefit analysis and once you do the cost benefit analysis you are able to identify the the financial model the sustainability model that can support your infrastructure or different versions of the infrastructure so financial sustainability means that we have enough cash to cover the annual project cost without running the risk of procuring cash shortages it's very easy it's very common sense and we have to we have to build this sustainability we have to build the model given the cash flow of operating costs the time profile of the interest payment lower reimbursements taxes pay which are relevant to a project and also the sources of financing financing the investment cost so based on this cost that we will identify through the cost questionnaire we need to compare this with what i call are the revenues which are the revenue cash flows of the project and and try to see if we can have financial sustainability for a long time horizon if not then we need to find additional economic tools that will guarantee this sustainability as long as we can prove that the cost benefit analysis is positive and here you can see a project which is financially sustainable with total inflows and total outflows where you have a positive cumulative cash flows and here a non-sustainable one where the accumulated cash flows are not so it's easy to distinguish between the two and at the end of the day we will come up with a model that is consistent with the willingness to pay and is sufficient to ensure financial performance and i i should leave it at that there are different business models but unless we go through the procedure that i've showed you today you cannot suggest you cannot recommend any of this because you don't know the basic cost and benefits that really one derives from this i think i'm used to my time thank you thank you very