Word: marketization
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Dates: during 1990-1999
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...Anyone is free to enter the market and avoid these costs," he says. "One could probably publish more cheaply a black-and-white textbook without any" of the added features, but "few instructors would choose such a book, I suspect, because it is not really in the students' interest to sacrifice educational value to save a few dollars...
...Market Competition...
...basic tenet of Ec 10 is that free market competition makes for cheaper and better products, but in the textbook industry, Coop competitors don't offer a much better deal...
...according to Albano, the Harvard Book Store is choosing to enter this market more to build customer loyalty than to create a major new profit center...
...sudden the market impact of the student's purchase becomes much more significant since each student, and not his or her professor, decides whether to buy certain features...