As publishers continue to release new textbook editions at an increasing rate, reducing the functional lifespan of their less expensive used predecessors, campus bookstores across the nation have begun tapping foreign markets as a method of obtaining textbooks at a significantly reduced cost.
The price of an American textbook in countries such as China and England can be up to 50 percent less than what is charged in the United States, said Jeremy Hunt, manager of the Student Book Store, an independent seller on the Corner which began importing textbooks two summers ago and ended the practice at the end of last year for logistical reasons.
"It can be a fun game," Hunt said. "But in some ways its more trouble than it's worth."
Despite the inherent difficulties involved, the University Bookstore, which began purchasing a portion of its textbooks oversees last year, continues to do so, Bookstore Executive Director Jon Kates said.
Over the past decade, publishers have gone from releasing new textbook editions every five years to every three years, less than the amount of time it takes most students to graduate. Additionally, when authors are unable to produce new material under such a tight schedule, publishers often resort to releasing "sneakier" updated editions that have just enough changes to render the old edition unusable, Hunt said.
Problems and potential risks such as receiving the wrong title or an outdated edition have discouraged widespread textbook importation, said Judith Platt, spokesperson for the Association of American Publishers, which represents members of the book publishing industry.
"It can cause problems for students," she said. "We don't necessarily like it."
The cost discrepancy in overseas markets exists because foreign students, eager to study from what are generally regarded as superior American textbooks, often would not be able to afford the prices charged to domestic consumers. Hunt said the result of this relationship is that students in the United States end up subsidizing the cost of textbooks for the rest of the world.
"We think their pricing tactics are unfair to students in the United States," he said.
Platt said the practice is a way of being socially conscious and providing educational benefits to poorer students in other countries, adding that it helps to maintain lower book prices in American markets.
Politics Prof. Len Schoppa, who specializes in the politics of trade and economic policy, said if textbooks were sold abroad at the prices American students pay, a single textbook could consume more than 10 percent of the average per capita income in some poorer nations. The annual cost of books and supplies for students in 2002-2003 was between $727 and $807, according to statistics from the College Board.
Platt said domestic prices could not be lowered to match those offered abroad, in part because of a unique business model that offers bookstores many benefits, including free returns and refunds.
"The publishers would be out of business in a week and a half," she said.
Economics Prof. John McLaren, who specializes in international trade, disagreed with Platt's assessment.
"I doubt that's true," he said. "A seller with some monopoly power will have an incentive to charge a higher price."
The textbook industry operates under monopolistic competition, he said, in a similar manner to the recording, film and pharmaceutical industries, where the barrier to entry is high. A new textbook can cost over a million dollars to publish, including fees to authors and editors, and take several years to develop, Platt said.
While professors receive large sums of money for their work on textbooks, Schoppa said that students who can afford to do so end up footing the bill.
"I'm not sure the current benefit for scholars outweighs the potential benefit for college students," he said.
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