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Why Are Textbooks So Expensive?

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Vladimir Godnik/Beyond/Corbis

The beginning of a freshman’s college experience is an exciting time. Dining halls! No bedtime! Taunting your RA! Exorbitantly expensive textbooks!

Wait, that last one is no fun at all. It’s hard to make that first trip to the college bookstore for required texts without leaving with a bit of sticker shock. Why are textbooks so astonishingly expensive? Let’s take a look.

Publishers would explain that textbooks are really expensive to make. Dropping over a hundred bucks for a textbook seems like an outrage when you’re used to shelling out $10 or $25 for a novel, but textbooks aren’t made on the same budget. Those hundreds of glossy colorful pages, complete with charts, graphs, and illustrations, cost more than putting black words on regular old white paper. The National Association of College Stores has said that roughly 33 cents of every textbook dollar goes to this sort of production cost, with another 11.8 cents of every dollar going to author royalties. Making a textbook isn’t cheap.

There’s certainly some validity to this explanation. Yes, those charts and diagrams are expensive to produce, and the relatively small print runs of textbooks keep publishers from enjoying the kind of economies of scale they get on a bestselling popular novel. Any economist who has a pulse (and probably some who don’t) could poke holes in this argument pretty quickly, though.

In the simplest economic terms, the high price of textbooks is symptomatic of misaligned incentives, not exorbitant production costs. Students hold the reasonable stance that they’d like to spend as little money as possible on their books. Students don’t really have the latitude to pick which texts they need, though.

Professors pick the course materials, and faculty members don’t have any strong incentive to be price sensitive when it comes to selecting textbooks. Their out-of-pocket expense is zero whether the required texts cost $100 or $300, so there’s no real barrier to heaping on more reading material. If a student needs Class X to graduate, they’ll likely need to procure the required texts. This lack of cost-control incentives for professors is a major reason that at some point in college, everyone meets the expensive textbook’s even more maddening cousin, the Expensive Textbook You Never Even Use.

Moreover, many students aren’t all that price sensitive themselves. While the broke college kid is a beloved caricature, many students’ parents may still be footing the bill for school materials like books. Unless their parents raise a stink over a semester’s book bill, it’s easy to see how the textbook market could be one where none of the players actually have any strong incentive to be sensitive to prices.

Publishers also counter that widespread sales of used books cut into their bottom line. As eBay and Amazon have made the market for textbooks much bigger and more flexible, publishers lament that they’re losing out on sales, which necessitates higher retail prices for the new books they do sell.

Is there any truth to this argument? Maybe, but the effect may not be as great as the publishers claim. As economist Hal R. Varian wrote in The New York Times in 2005, it’s not totally clear that used textbooks are perfect substitutes for new ones. (Finding this piece absolved me of any residual guilt I may have had over selling Varian’s own excellent graduate microeconomics text on eBay last year.) As Varian puts it, used book sales probably cannibalizes less of the new book market than one might imagine.

Luckily for students, some external forces are placing downward pressure on textbook prices. Last year a new federal law went into effect that requires publishers to notify professors of textbook prices and schools to inform students of necessary course texts during registration. Online textbook rental companies could help replace outright ownership, as could electronic reserve programs. It may take a while, but in the future college students may be able to do the required reading without emptying their wallets.

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Big Questions
How Does Autopilot Work on an Airplane?
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How does autopilot work on an airplane?

Joe Shelton:

David Micklewhyte’s answer is a good one. There are essentially a few types of features that different autopilots have. Some autopilots only have some of these features, while the more powerful autopilots do it all.

  • Heading Hold: There’s a small indicator that the pilot can set on the desired heading and the airplane will fly that heading. This feature doesn’t take the need for wind correction to desired routing into account; that’s left to the pilot.
  • Heading and Navigation: In addition to holding a heading, this version will take an electronic navigation input (e.g. GPS or VOR) and will follow (fly) that navigation reference. It’s sort of like an automated car in that it follows the navigator’s input and the pilot monitors.
  • Altitude Hold: Again, in addition to the above, a desired altitude can be set and the aircraft will fly at that altitude. Some autopilots have the capability for the pilot to select a desired altitude and a climb or descent rate and the aircraft will automatically climb or descend to that altitude and then hold the altitude.
  • Instrument Approaches: Autopilots with this capability will fly preprogrammed instrument approaches to the point where the pilot either takes control and lands or has the autopilot execute a missed approach.

The autopilot is a powerful computer that takes input from either the pilot or a navigation device and essentially does what it is told to do. GPS navigators, for example, can have a full flight plan entered from departure to destination, and the autopilot will follow the navigator’s guidance.

These are the majority of the controls on the autopilot installed in my airplane:

HDG Knob = Heading knob (Used to set the desired heading)

AP = Autopilot (Pressing this turns the autopilot on)

FD = Flight Director (A form of navigational display that the pilot uses)

HDG = Heading (Tells the autopilot to fly the heading set by the Heading Knob)

NAV = Tells the autopilot to follow the input from the selected navigator

APR = Tells the autopilot to fly the chosen approach

ALT = Tells the autopilot to manage the altitude, controlled by the following:

VS = Vertical Speed (Tells the autopilot to climb or descend at the chosen rate)

Nose UP / Nose DN = Sets the climb/descent rate in feet per minute

FLC = Flight Level Change (An easy manual way to set the autopilot)

ALT Knob = Used to enter the desired altitude

This post originally appeared on Quora. Click here to view.

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Big Questions
What's the Difference Between Vanilla and French Vanilla Ice Cream?
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While you’re browsing the ice cream aisle, you may find yourself wondering, “What’s so French about French vanilla?” The name may sound a little fancier than just plain ol’ “vanilla,” but it has nothing to do with the origin of the vanilla itself. (Vanilla is a tropical plant that grows near the equator.)

The difference comes down to eggs, as The Kitchn explains. You may have already noticed that French vanilla ice cream tends to have a slightly yellow coloring, while plain vanilla ice cream is more white. That’s because the base of French vanilla ice cream has egg yolks added to it.

The eggs give French vanilla ice cream both a smoother consistency and that subtle yellow color. The taste is a little richer and a little more complex than a regular vanilla, which is made with just milk and cream and is sometimes called “Philadelphia-style vanilla” ice cream.

In an interview with NPR’s All Things Considered in 2010—when Baskin-Robbins decided to eliminate French Vanilla from its ice cream lineup—ice cream industry consultant Bruce Tharp noted that French vanilla ice cream may date back to at least colonial times, when Thomas Jefferson and George Washington both used ice cream recipes that included egg yolks.

Jefferson likely acquired his taste for ice cream during the time he spent in France, and served it to his White House guests several times. His family’s ice cream recipe—which calls for six egg yolks per quart of cream—seems to have originated with his French butler.

But everyone already knew to trust the French with their dairy products, right?

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