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Books by authors whose previous books I've really liked, I might buy at hardcover prices(depending on the size of my TBR list budget and desire to read that book ASAP)
But the vast majority of books?
Why spend hard-cover prices for something I'll probably like when I can spend less than a third the cost on a different book I'll probably like just as much?
And while most books are sold to people who buy fewer books then I do, I don't see why the reasoning wouldn't still hold true, price matters more when you are less sure how much you'll like it.
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