Sunday, December 9, 2007

Economics of Textbooks

Students have much reason to be frustrated at the price of textbooks. If I had to guess, I'd say the average price of a book in a university book store is about double the local book store (also true for used books). The reason for this is that the people who are making the buying decisions (professors) are not the people who have to pay the bill (students). This causes book sellers to completely on quality and not price. If you are fortunate enough to be part of the population the buy textbooks you know that they are usually filled with glossy pages and pictures that are in no ways necessary to the subject. How do you fix's hard. I think the most effective way would be to nag your teachers who make you buy unnecessary amounts of books. A textbook price ceiling might work, but then you eliminate books where it is necessary to charge the high amount.

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