... The textbook industry operates according to some very weird market forces. In what has been coined
a "Broken Market," the student does not choose their product, and the instructor or department that does
choose the textbook does not actually purchase it. As a result, price is removed from the purchasing
decision, allowing publishers to set higher prices. In addition, there exists very little competition
in the textbook market, with only a handful of major publishers to choose from.
It would also be 'weird' if university bookstores chose the textbooks
that were used for every course (a common misconception).
If that were the case, you can rest assured every book would be in stock well before
the start of class! Unfortunately, textbooks can't be shipped until orders are received from
the instructors, who first have to wait for department administration to decide their courses
of instruction. As a result of this process, orders are often placed too late for the books
to arrive before classes begin.
Although the prices of textbooks are climbing faster than would be expected,
and communication problems can result in textbooks being ordered too late for the beginning of
classes, it should be noted that both bookstores and faculty are committed to do all they can
to get orders in on time, resist new editions of textbooks, prevent unwanted add-ons, and
encourage peer-to-peer exchange (sale) of used books.
Copyright © 2008 Canadian Campus Retail Associates (CCRA)