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Huh? Sale books prove that demand is elastic. How are they not a factor?
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Easy. They don't make money for the publisher.
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Which is a failure of the publisher's business model. And does nothing to discount that there clearly is more demand at a lower price.
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Hardback, trade, paperback, sale, bargain bookshop, second hand bookshop, charity bookshop, library sale, library. Books are available in many ways, at decreasing prices as they pass through their sales lifecycle. At each stage they pickup more readers.
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Yep. But if I'm a publisher, my concern is sales that will actually make me money. Books resold on the secondary market don't generate revenue for me.
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Which is why they are trying to cut them off with eBooks.
Can't lend them, can't buy them second-hand, and at least some publishers are refusing to allow their eBooks in libraries.
That leaves a lot of people who want to read the book, but not to pay full price, but now have no way of getting it. Presumably the publishers hope they will suck it up and pay full price.
The choice is embrace or extinguish, either sell at the lower price and try to gain a larger market, or cut off all other avenues of purchase.