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The economics of used books

By posted at 5:48 am on July 28, 2005 0

Very interesting article from the NY Times today about Amazon and used books. Many assume that Amazon’s ample selection of used books represents a grave threat to authors and publishers, but some economists who looked into the issue found evidence that just the opposite is true. The key point: “When used books are substituted for new ones, the seller faces competition from the secondhand market, reducing the price it can set for new books. But there’s another effect: the presence of a market for used books makes consumers more willing to buy new books, because they can easily dispose of them later.” Read the whole article here.

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