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Originally Posted by QuantumIguana
Something is fungible if it is freely interchangeable with any other.
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It is interchangeable with any other item in the set being considered, and under the circumstances being considered.
Quote:
Originally Posted by QuantumIguana
Money is the ultimate in fungibility, a dollar is a dollar is a dollar.
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Except to the currency collector, who places a value on the condition of the bill. You always need to take into account the circumstances.
Quote:
Originally Posted by QuantumIguana
The fungibility level of books is far more similar to that of steak and wine than it is to money and corn.
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I still am not sure that I accept this idea of fungibility level. I prefer to say that a set of things are fungible in a certain circumstance.
Quote:
Originally Posted by QuantumIguana
I realize the absurdity of comparing Twilight to a good steak or a fine wine, but what I think of the quality of the book isn't important. The important thing is that readers have decided that it is worth paying $8.99 for. To not be fungible does not mean it is incomparable. If a reader can't get Twilight, they aren't likely just going to grab some 99 cent book.
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I did not say that readers would grab any book if they could not get Twilight. However, there are circumstances in which other books are substitutes for Twilight. I believe that the publishing companies are well aware of such circumstances and books. Thus, they felt the need to collude when they decided to raise the prices on some of their books, or else customers could have purchased the interchangeable books for less.
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Originally Posted by kennyc
No, you are simply wrong in your understanding.
A book is is unique, it is not generic. If you think you can substitute a gallon of gasoline for a gallon of water just because they are both gallons, I've got some trading I want to do with you.
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An item may be unique in certain respects, but that does not mean it is not interchangeable. For example, in most circumstances I would trade a twenty dollar bill for two ten dollar bills. The ten dollar bills are different from the twenty, but are still interchangeable.