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In my case it certainly does -- just not all the time.
If I didn't have an ereader (I ain't saying liseuseuseuse) then I would buy a pbook. Therefore, of course it represents a lost paper book sell. However, this doesn't mean that every time I buy an ebook that I would have bought the paper book had the ebook not been available. In fact, I've bought a lot more books than I used to buy, now that I own an ereader.
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