Sie sind auf Seite 1von 22

!

"#$%&'"($"
#$%&'")$*+(,$-
.$/"$0&-"(&1(2$$3)"!'&"(.&"
0!(."($"(&1(2$$3"!44$'5!2,*,(6
!"#$%&'"($"
#$%&'")$*+(,$-
.$/"$0&-"(&1(2$$3)"!'&"(.&"0!(.
"($"(&1(2$$3"!44$'5!2,*,(6

-,#$*&"!**&-
(.&")(+5&-("0,'7)
)&0(&82&'"9:;:

!"#$%&%%
!#3-$/*&57&8&-()
'($%")*(+,%-+)./% .01$%*+%"213+-.$/#$%*($% 456!789:% 4+!789:%;5<<!789:% =<!789:%>4+33!789:%?"@(!789%
"3/% ?7<!789% @*)/$3*@% "3/% @*"A% -(+% "@@0@*$/% -0*(% ,$@$",2(% B+,% *(0@% ,$C+,*:% $@C$20"..D% *($% 2("C*$,@% "*%
>4+33E<*+,,@:%>?E;"/0@+3:%4>EF+)./$,:%>4<F:%>30G$,@0*D%+B%=,$#+3%"3/%>30G$,@0*D%+B%?"@(03#*+3H%%'("31@%
*+%*($%B+..+-03#%C$+C.$%B+,%*($0,%"@@0@*"32$%-0*(%*($%/$G$.+CI$3*%+B% *(0@%,$C+,*J%K"21D%L++/%B,+I% 4+..$#$%
=C$3%'$M*N++1@ %"3/%*($%4+II)30*D% 4+..$#$%4+3@+,O)I%B+,% =C$3% P/)2"O+3".%8$@+),2$@Q% P,02%R,"31%"3/%
4",+.$%?".*$,@%B,+I%R."*%?+,./%S3+-.$/#$Q%T,H%TH%<*$G$3%?(0*$%B,+I%>;"@@ET",*I+)*(H

<C$20".%*("31@%*+%*($%?0..0"I%U%R.+,"%L$-.$V%R+)3/"O+3%B+,%P/)2"O+3%B+,%*($0,%@)CC+,*%+B%*(0@%C,+W$2*H

4+G$,%0I"#$%2,$/0*J%K+$%<(."N+*301:%X4+03@X%(VCJYY---HZ021,H2+IYC(+*+@YW+$@(."N+*301Y[&\][&[\^\

'(0@%-+,1%0@%.02$3@$/%)3/$,%*($%4,$"OG$%4+II+3@E5V,0N)O+3%]H_%602$3@$H

'($%<*)/$3*%!)N.02%73*$,$@*%8$@$",2(%9,+)C@%`<*)/$3*%!789@a%C,+G0/$%"3%03/$C$3/$3*%G+02$%+3%N$(".B%+B%*($%
C)N.02% 03*$,$@*% b% 03G$@O#"O3#% C,+N.$I@:% 2,"c03#% @+.)O+3@:% $/)2"O3#% *($% C)N.02% "3/% +A$,03#% @*)/$3*@%
I$"303#B).%+CC+,*)30O$@%B+,%20G02%C",O20C"O+3H

'($%<*)/$3*%!789@%% % % % % d02+.$%5..$3:%'$M*N++1@%4"IC"0#3
\_^%<H%T$",N+,3:%<)0*$%^_&%% % % % \\%?03*$,%<*H:%\*(%R.++,
4(02"#+:%76%e_e_f%% % % % % F+@*+3:%;5%_[&_g
]&[E[h&E_]\h%% % % % % % \_&E\g\Eg&_\
---H@*)/$3*C0,#@H+,#% % % % % ---H@*)/$3*C0,#@H+,#Y*$M*N++1@

!"#$%[%%
(!2*&"$4"#$-(&-()
!"#$%&'#()%**+,-( .

/01,23%$&20( 4

56036078( 9

:20$;%8620( <.

=#$2**#03+&208( <>

?#1@232;27-( <A

!"#$%]%%
'<=>?@"4ABCABDE
&1&#+(,%&" T),03#% *($% @C,03#% "3/% @)II$,% +B% [_&_:% *($%

)+88!'6 <*)/$3*% !789@% 2+3/)2*$/% "% @),G$D% +B% &:\[g%


@*)/$3*@% B,+I% &_% 2"IC)@$@% "3/% "3% "3".D@0@% +B%
*$M*N++1% C,02$@% B+,% &_% 2+II+3% 2+..$#$% @)NW$2*@H%%
=),%l3/03#@%",$%"@%B+..+-@H%%
!"##$%$& '$(')""*& +,-.$/& 012$& /*3,".*$'$4& -5&
,$.$5'& 3$1,/6& '0,$1'$5-5%& '0$& 17",41)-#-'3& 154& B<&=$(')""*&17",41)-#-'3& /"#9'-"5/&;9/'&/1'-/83&1&
1..$//-)-#-'3&"8&0-%0$,&$49.1'-"5&-5&:;$,-.1<&&=0$& A-4$&,15%$&"8&/'94$5'&+,$8$,$5.$/<
12$,1%$& /'94$5'& /+$54/& >?@@& "5& '$(')""*/&
15591##36& A0-.0& .15& )$& '0$& '-++-5%& +"-5'& '($% @),G$D% ,$@).*@% @(+-% *("*% @*)/$3*%C,$B$,$32$@%
)$'A$$5& 17",4-5%& 1& 4$%,$$& 154& 4,"++-5%& "9'& G",D% -0/$.DH% % '($,$B+,$:%*($%@+.)O+3%I)@*%+A$,% "%
)$.19/$&"8&."/'<& &:/&+,-.$/&."5'-59$&'"&,-/$6&'0$& I).O*)/$% +B% "A+,/"N.$%+CO+3@% *+% $M*$3/% @"G03#@%
5$$4&8",&/"#9'-"5/&-/&-5.,$1/-5%#3&9,%$5'< *+%"..%@*)/$3*@H%

8$2$3*% /$G$.+CI$3*@%("G$%N,+)#(*% @0#3@%+B% ,$.0$B% <*)/$3*@%",$%@C.0*%N$*-$$3%C,03*%"3/%/0#0*".J%^fm%


B,+I%,)3"-"D%2+@*@H%%73%K).D%+B%*(0@%D$",:%C,+G0@0+3@% +B% *($% @*)/$3*@% @),G$D$/% @"0/% C,03*% -"@% *($0,%
B,+I% *($% L0#($,% P/)2"O+3% =CC+,*)30*D% 52*% *++1% C,$B$,,$/%B+,I"*Q%[fm%2(+@$%/0#0*".H%%'(0@ %l3/03#%
$A$2*:% ,$i)0,03#% C)N.0@($,@% *+% /0@2.+@$% *$M*N++1% I0,,+,@% "% @),G$D% -$% 2+3/)2*$/% 03% [__g:% -(02(%
C,02$@%*+%C,+B$@@+,@%/),03#%*($%I",1$O3#%C,+2$@@H%% @)##$@*@ % *("*% @*)/$3*% "n*)/$@% ("G$% 3+*%
732,$"@$/% "-",$3$@@% +B% 2+@*% -0..% 2,$"*$% "3% 2("3#$/%@0#30l2"3*.DH
"*I+@C($,$% -($,$% .+-$,E2+@*% +CO+3@% 2"3% #"03%
*,"2O+3H% %4+32),,$3*.D:% @$G$,".%C+*$3O".%@+.)O+3@%
("G$%$G+.G$/%03%*($%*$M*N++1@%I",1$*C."2$H B#"1C22D(52,*+1(
E,#F#,#0$# .G
!"#$%&'()*+,-."/0",#.1"&.$&2(+0",23.$'4$5""6#7. H<G
8$3*".@:%$EN++1@%"3/%$E,$"/$,@%("G$%$I$,#$/%"@% !,03*
.$@@% $MC$3@0G$%".*$,3"OG$@%*+% 2+@*.D:% *,"/0O+3".% T0#0*".%`$EN++1@a I>G
*$M*N++1@H% % 5@% +B% *(0@% B"..:% I+,$% *("3% &:f__% T0#0*".%`$E,$"/$,@a
2+..$#$@% +A$,% N++1@% B+,% ,$3*:% "3/% I+,$% *("3%
^:___% 2+II+3% O*.$@% ",$% "G"0."N.$% "@% $EN++1@H%%
d$-% $E,$"/03#% /$G02$@% .01$% 5CC.$j@% 0!"/% "3/% 5% 2+IN03"O+3%+B% C,03*% "3/% /0#0*".%I"D% N$%N$@*%
5I"k+3j@ % S03/.$% +A$,% " % 2+3G$30$3*:% C+,*"N.$% B+,%@+I$%@*)/$3*@J%\^m%+B%*($%@*)/$3*@%@"0/%*($D%
-"D%B+,%@*)/$3*@%*+%,$"/%"3/%@*+,$%/0#0*".%N++1@H% -+)./%N$%2+IB+,*"N.$% )@03#% "*% .$"@*% +3$%+B% *($%
83$'&,2$'. 9"('3#7% =C$3E@+),2$% *$M*N++1@% ",$% /0#0*".%*$M*N++1%B+,I"*@H
#"0303#% *,"2O+3% "@% "3% 033+G"OG$% ".*$,3"OG$H%% '+%,$3*%+,%*+%N)Do% %;+@*%@*)/$3*@ %-+)./%2(++@$%
=C$3% *$M*N++1@% ",$% +A$,$/% +3.03$% )3/$,% "3% N+*(J% h]m% +B% *($% @*)/$3*@%-+)./% ,$3*% "*% .$"@*%
+C$3E@+),2$% .02$3@$% *("*% "..+-@% B,$$% /0#0*".% @+I$% +B% *($0,% *$M*N++1@:% N)*% +3.D% ]\m% -+)./%
"22$@@:%.+-E2+@*%C,03*%+CO+3@%"3/%2)@*+I0k"O+3% ,$3*%"..%+B%*($IH
ND%03@*,)2*+,@H% %;+,$%*("3%&:___%C,+B$@@+,@%",$%
)@03#% +C$3% *$M*N++1@% *(0@% B"..:% "3/% /+k$3@% +B% C< =,14-'-"51#&."/'D,$49.-5%&"+'-"5/&012$&#-;-'$4&
(0#(Ei)".0*D%N++1@%",$%".,$"/D%"G"0."N.$H +"'$5'-1#&)$.19/$&'0$3&"5#3&1++$1#&'"&1&/9)/$'&
"8&/'94$5'/<
'($% <*)/$3*% !789@% 2+3/)2*$/% *(0@% @*)/D% *+%
$G".)"*$% *($% .+3#E*$,I% C+*$3O".% +B% *($@$% 3$-% ?$% )@$/% *($% @*)/$3*% @),G$D% "3/% *$M*N++1% C,02$%
+CO+3@%"@%@+.)O+3@%*+%*($%(0#(%2+@*%+B%*$M*N++1@H /"*"%*+%$@OI"*$%(+-%I)2(%,$3*".@:%$EN++1@ %"3/%$E
,$"/$,@%2+)./%,$/)2$%*($%"G$,"#$%"I+)3*%@*)/$3*@%
% @C$3/% +3% *$M*N++1@% C$,% D$",% `ph__aH% % 5..% *(,$$%
-$,$% .$@@% $MC$3@0G$% *("3% N)D03#% C,03*% *$M*N++1@:%

!"#$%\%%
N)*%*($%@"G03#@%",$%.0I0*$/%N$2")@$%*($%+CO+3@%/+% =C$3%*$M*N++1@%2"3%,$/)2$%2+@*@%@)N@*"3O"..D%"3/%
3+*%"CC$".%*+%"..%@*)/$3*@H% 2"3% "22+II+/"*$% *($% B)..% @C$2*,)I% +B% @*)/$3*@H%%
=C$3%*$M*N++1@%",$%"%2+IC,$($3@0G$%@+.)O+3%-0*(%
8$3*".@% ",$% e&m% .$@@% *("3% 3$-% C,03*% *$M*N++1@%
"% G",0$*D% +B% "A+,/"N.$% B+,I"*@% "3/% C),2("@03#%
+3% "G$,"#$% "3/% 2+)./% ,$/)2$% *($% "G$,"#$%
+CO+3@H% =C$3% *$M*N++1@% $G$3% #+% " % @*$C% N$D+3/%
"I+)3*%@C$3*%C$,%D$",%ND%]]m%*+%pe_[H%
,$/)203#% 2+@*@% ND% 032$3OG0k03#% C)N.0@($,@% *+%
PE*$M*N++1@%",$%f[m% .$@@% *("3% 3$-% C,03*% N++1@%% ,$@C$2*% @*)/$3*@%"@ %2+3@)I$,@% "3/% +A$,% "% -0/$,%
+3% "G$,"#$% "3/% 2+)./% ,$/)2$% *($% "G$,"#$% ,"3#$%+B%C,+/)2*@%"*%"A+,/"N.$%C,02$@H
"I+)3*%@C$3*%C$,%D$",%ND%gm%*+%pg]_H
PE,$"/$,% *$M*N++1@%",$%]hm% .$@@%*("3%3$-% C,03*% )%**+,-(2F()+'6078
N++1@%+3%"G$,"#$%"3/%2+)./%,$/)2$%*($%"G$,"#$%
"I+)3*%@C$3*%C$,%D$",%ND%&H\m%*+%pgggH AJG
5..% *(,$$% +CO+3@% 2+IN03$/% 2+)./% ,$/)2$% *($%
"G$,"#$%"I+)3*%@C$3*%C$,%D$",%ND%]\m%*+%pfhgH
KKG
E< F+$5& '$(')""*/& .15& ,$49.$& ."/'/& 8",& 1##&
/'94$5'/&154& 012$&'0$&+"'$5'-1#&8",&#"5%D'$,;&
/9/'1-51)-#-'3< AG <G
=C$3% *$M*N++1@% 2+I$% 03% "% ,"3#$% +B% "A+,/"N.$%
B+,I"*@% *("*% "22+II+/"*$@% "..% C,$B$,$32$@:% "3/% =C$3%'$M*N++1@ 8$3*".@
*($,$ND% $M*$3/@% *($% @"G03#@% *+% "..% @*)/$3*@H%% PE'$M*N++1@ PE8$"/$,@
!)n3#% +C$3% *$M*N++1@ % *+% *($% @"I$% *$@*% "@% *($%
*,"/0O+3".% 2+@*E,$/)203#% +CO+3@:% -$% B+)3/% *("*% ?$%*($,$B+,$%2+32.)/$%*("*% *($% 3$M*%@*$C%*+-",/%
*($%+G$,"..%,$@).*@%-+)./%N$%/,"I"O2H *$M*N++1% "A+,/"N0.0*D% 0@% *+% C,+I+*$% *($% 2,$"O+3%
=C$3% *$M*N++1@% 2+)./% ,$/)2$% *($% "G$,"#$% "3/% "/+CO+3% +B% +C$3% *$M*N++1@H% % d+-% *("*%
"I+)3*%@C$3*%C$,%D$",%ND%g_m%*+%p&g\H *($% B$/$,".% C,02$% /0@2.+@),$% ."-% ("@% I"/$% 2+@*%
03*$#,".% *+% *($% *$M*N++1% I",1$O3#% "3/% @$.$2O+3%
=C$3%*$M*N++1@%"%@*,+3#% C+*$3O".%B+,%@"G03#@:%N)*% C,+2$@@:% C,+I+O3#% +C$3% *$M*N++1@% 2"3% 2,$"*$%
*($0,% @)22$@@%-0..% /$C$3/% +3% *($%/$G$.+CI$3*% +B% C,$@@),$%B+,%C)N.0@($,@%*+%.+-$,%*($0,%C,02$@H
@)@*"03"N.$% C)N.0@(03#% I+/$.@H% % =),% @*)/D% B+)3/%
*("*%@*)/$3*@%",$% -0..03#% *+% C),2("@$% C,03*% 2+C0$@%
"3/%+*($,%+CO+3".%0*$I@:%$G$3%*(+)#(%*($%B)..%*$M*% '<F>II<BCJ@A>BE
+B%+C$3%*$M*N++1@%0@%B,$$%+3.03$H%%%'($%@".$%+B% @)2(%
C,+/)2*@ % 2+)./% @$,G$% "@% *($% B+)3/"O+3% +B% !)N.0@($,@%@(+)./%/$G$.+C%3$-% I+/$.@%*("*% 2"3%
033+G"OG$%N)@03$@@%I+/$.@%B+,%C)N.0@($,@H C,+/)2$% (0#(% i)".0*D% N++1@ % -0*(+)*% 0IC+@03#%
$M2$@@0G$%2+@*@%+3%@*)/$3*@H% % '($%$I$,#$32$%+B%
+C$3% *$M*N++1% C)N.0@($,@% @)2(% "@% R."*% ?+,./%
#>BFGHEA>B S3+-.$/#$%C,+G$@%*(0@%0@%C+@@0N.$H

'(0@% @*)/D% /$I+3@*,"*$@% *("*% *($% @+.)O+3% *+% R"2).*D% @(+)./% @$$1:% 2+3@0/$,% "3/% "/+C*% +C$3%
*$M*N++1%"A+,/"N0.0*D%I)@*%N+*(% ,$/)2$%2+@*@%"3/% *$M*N++1@% "3/% +*($,% "A+,/"N.$% ".*$,3"OG$@%
"//,$@@%*($%/0G$,@0*D%+B%@*)/$3*%C,$B$,$32$@H% -($3$G$,%C+@@0N.$H
4+..$#$@%"3/% #+G$,3I$3*@% @(+)./% 03G$@*% 03% *($%
'($%C+*$3O".%0IC"2*%+B%,$3*".@:%$E*$M*N++1@%"3/%$E 2,$"O+3% +B% I+,$% +C$3% *$M*N++1@% "3/% *($%
,$"/$,@% 0@% .0I0*$/% N$2")@$% *($D% +3.D% I"*2(% *($% 033+G"O+3%+B%@)@*"03"N.$%I+/$.@H
C,$B$,$32$@% +B% "% @)N@$*% +B% @*)/$3*@H% % ?(0.$% @)2(%
+CO+3@% 2"3% ($.C% ,$/)2$%2+@*@% 03% *($% @(+,*% *$,I:% <*)/$3*@%@(+)./%*"1$%"2O+3%"#"03@*%(0#(%2+@*@%ND%
*($D%2"33+*%N$%"%.+3#E*$,I%@+.)O+3H @C,$"/03#% *($% -+,/% "N+)*% +C$3% *$M*N++1@% *+%
*($0,%B"2).*D:%2"IC)@$@%"3/%2+II)30O$@H

!"#$%f%%
,-('$5+#(,$-
4+..$#$%*$M*N++1%C,02$@%("G$%@1D,+21$*$/%03% ,$2$3*%D$",@:% *(,$"*$303#%*($%"A+,/"N0.0*D%"3/%"22$@@0N0.0*D%+B%
(0#($,%$/)2"O+3% 03% 5I$,02"H% %522+,/03#%*+% *($%9+G$,3I$3*% 522+)3*"N0.0*D% =q2$%`95=a:% @*)/$3*@%@C$3/%
"N+)*% ph__% C$,% D$",% +3% *$M*N++1@:% -(02(% "I+)3*@ % *+% [em% +B% *)0O+3% B+,% "3% "G$,"#$% B+),ED$",% C)N.02%
)30G$,@0*D% @*)/$3*% "3/% ^[m% +B% *)0O+3% B+,% "%2+II)30*D% 2+..$#$% @*)/$3*H& % % R),*($,I+,$:% ,$@$",2(% ND% *($%
<*)/$3*%!)N.02%73*$,$@*%8$@$",2(%9,+)C@%`!789@a%B+)3/%*("*%*$M*N++1%C,02$@%("G$%N$$3%,0@03#%B+),%OI$@%*($%
,"*$% +B% 03Z"O+3% B+,%*($%."@*% *-+% /$2"/$@H[ % % =3% *+C% +B% N"..++303#% *)0O+3%"3/% B$$@:% *$M*N++1@ %2"3%N$%*($%
OCC03#%C+03*%*("*%B+,2$@%@*)/$3*@ %03*+%/$$C$,%/$N*:%-+,103#%.+3#$,%(+),@:%+,%03%$M*,$I$%2"@$@:%/,+CC03#%+)*%
".*+#$*($,H%%

(K<"(<L@M>>N",BCHE@?O"#>B@ABH<E"@>"5?AP<"0?AF<E")NOQJ?C
4,7+'&";
=G$,%*($%C"@*%@$G$3%D$",@:%*($%<*)/$3*%!789@%("G$%2+3/)2*$/%3)I$,+)@%
@*)/0$@%*+% 03G$@O#"*$%*($%,0@03#% 2+@*% +B% 2+..$#$%*$M*N++1@%"3/%0*@%0IC"2*% Publisher
+3%@*)/$3*@H%%'($%)3/$,.D03#%2")@$%B+,%(0#(%C,02$@%0@ %"%I",1$*%B"0.),$%*("*%
(03/$,@%*($%$2+3+I02%2($21@%"3/% N"."32$@%*("*%3"*),"..D% ,$#)."*$% 2+@*@%
`R0#),$% &aH% % 73% "% 3+,I".% I",1$*:% 2+3@)I$,@% $M$,20@$% 2(+02$% 03% -(02(%
C,+/)2*@% *+% N)D:% "3/% 2+IC$OO+3% "I+3#% C,+/)2$,@%1$$C@% C,02$@%)3/$,%
2+3*,+.H% % 73% *($% *$M*N++1@% I",1$*:% C,+B$@@+,@% 2(++@$% -(02(% *$M*N++1@% Student Professor
@*)/$3*@% I)@*% N)D:% -(02(% $.0I03"*$@% "3D% C,02$% 2+IC$OO+3% "I+3#%
C)N.0@($,@H% % <*)/$3*@%("G$% .0V.$% 2(+02$% N)*% *+% C),2("@$% *($0,% "@@0#3$/%
N++1@:%-(02(%0@%-(D%C)N.0@($,@%",$%"N.$%*+%@$*%(0#(%C,02$@%)32("..$3#$/H

R+,%D$",@:%C)N.0@($,@%("G$%$MC.+0*$/%*(0@%I",1$*%/D3"I02%*+%,$"C%C,+l*@ %B+,%@(",$(+./$,@%-(0.$%$3#"#03#%03%"%
,"3#$% +B% C,"2O2$@% *("*% 3+*% +3.D% 03Z"*$% C,02$@:% N)*% ".@+% )3/$,I03$% 2+@*E@"G03#% +CO+3@H% % <*)/$3*% !789%
,$@$",2(%("@%/+2)I$3*$/%*($@$%*"2O2@:%-(02(%032.)/$J%

:';. '(+0",#7. !)N.0@($,@%,$.$"@$%3$-%$/0O+3@%$G$,D% ]E\%D$",@ %,$#",/.$@@%+B% 2("3#$@% 03% *($% @)NW$2*:%


-0*(%C,02$@%*("*%",$%&[m%(0#($,%+3%"G$,"#$H ]% %=32$%" %3$-% $/0O+3%2+I$@%+)*:%@*)/$3*@%I)@*%N)D%*($%
3$-%G$,@0+3:%"3/%)@$/%2+C0$@%+B%*($%+./$,%G$,@0+3%2"33+*%N$%@+./%N"21H
!"#$3<.5),(3'#7%!)N.0@($,@%".@+%032,$"@$%2+@*@%ND% N)3/.03#%*$M*N++1@%-0*(%$MC$3@0G$%-+,1N++1@:% 4T@%
"3/%C"@@E2+/$@%*("*%032,$"@$%C,02$@%&_Ef_m%+,%$.0I03"*$%*($%,$@".$%G".)$%+B%*($%*$M*H%%522+,/03#%*+%efm%
+B%*($%C,+B$@@+,@%-$%@),G$D$/:%@)2(%@)CC.$I$3*".%0*$I@%",$%,",$.D%+,%3$G$,%)@$/%03%2."@@H\
='#23'.#25"$2-'7%d$-%X2+@*%@"G03#X% +CO+3@%.01$%$EN++1@:%.++@$E.$"B% "3/%2)@*+I%$/0O+3@%"CC$",%I+,$%
"A+,/"N.$:%N)*%+c$3%$3/%)C%2+@O3#%I+,$%N$2")@$%*($D%("G$%3+%,$@".$%G".)$H%%R+,%$M"IC.$:%"%&g_%/"D%
$EN++1%@)N@2,0CO+3%2"3%$3/%)C%*-02$%*($%2+@*%+B%N)D03#%*($%N++1%"3/%@$..03#%0*%N"21Hf%%

1 Government Accountability Office (GAO). 2005. College Textbooks Enhanced Offerings Appear to Drive Recent Price
Increases. GAO-05-806. http://www.gao.gov/new.items/d05806.pdf.
2 "New Laws, Free Books and Textbook Rentals Could Help Curb Rising Costs." The Student PIRGs. August 26, 2010.
3 The Student PIRGs. January 2004. Ripoff 101: How The Publishing Industry's Practices Needlessly Drive Up Textbook Costs.

For all research by the Student PIRGs, see http://www.studentpirgs.org/textbooks/reports.


4 The Student PIRGs. February 2005. Ripoff 101: How The Current Practices Of The Textbook Industry Drive Up The Cost Of

College Textbooks.
5 The Student PIRGs. August 2008. Course Correction: How Digital Textbooks Are Off Track And How To Set Them Straight.

!"#$%e%%
-<Q"4<C<?JG"'<DHGJ@A>BE"!G@<?"8J?N<@"5OBJIAFE
=3%K).D%&:%[_&_:%"%@$*%+B%3$-%B$/$,".%,$#)."O+3@%B,+I%*($%L0#($,%P/)2"O+3%=CC+,*)30*D%52*%+B%[__g%`LP=5a%
-$3*%03*+%$A$2*:%($.C03#%*+%@(0c%*($%N"."32$%+B%C+-$,%03%*($%I",1$*H%%'($%."-%,$i)0,$@%C)N.0@($,@%*+%032.)/$%
/$*"0.$/% C,02$% "3/% ,$G0@0+3% 03B+,I"O+3% -($3% I",1$O3#% *($0,% C,+/)2*@%*+% B"2).*D:% I"103#% 2+@*% $"@0$,% *+%
2+3@0/$,% -($3%"@@0#303#% *$M*@H% % 5% [__^%@*)/D% ND%*($%<*)/$3*%!789@%B+)3/%*("*%I+,$%*("3% *(,$$%i)",*$,@%
`^^ma% +B% C,+B$@@+,@%,$C+,*$/% *("*% C)N.0@($,% @".$@%,$C,$@$3*"OG$@%X,",$.DX% +,%X3$G$,X% G+.)3*$$,$/% C,02$@H%%
'($%@"I$%@*)/D%B+)3/%*("*%*($%G"@*%I"W+,0*D%+B% C,+B$@@+,@%`h\ma% -+)./%)@$%2+@*%"@%"%O$N,$"1$,%N$*-$$3%
*-+% $i)".%N++1@H% %!,02$%*,"3@C",$32D% -0..%$3@),$%*("*% C,+B$@@+,@j% C,$B$,$32$%B+,%.+-$,% 2+@*%*$M*N++1@%-0..%
$M$,*%C,$@@),$%+3%C)N.0@($,@%*+%,$/)2$%C,02$@H

'($%3$-%B$/$,".%."-%".@+%2+3*"03@%@$G$,".%C,+G0@0+3@%*+%($.C%@*)/$3*@%I"3"#$%*($0,%2+@*@%03%*($%@(+,*%*$,IH%%
R0,@*:%0*%,$i)0,$@%C)N.0@($,@%*+%+A$,%"..%2+IC+3$3*@%+B% *$M*N++1%XN)3/.$@X%@$C","*$.D:%I"103#%*($%C),2("@$%
+B%N)3/.$@%+CO+3".H%%<$2+3/:%*($%."-%,$i)0,$@ %2+..$#$@%*+%.0@*%"@@0#3$/%*$M*N++1@%/),03#%2+),@$%,$#0@*,"O+3H%%
8$#0@*,"O+3%*DC02"..D%+22),@%@$G$,".%I+3*(@%N$B+,$%*($%@*",*%+B% 2."@@$@:%@+% @*)/$3*@%-0..%("G$%@)N@*"3O"..D%
I+,$%OI$%*+%C."3%"($"/%"3/%@(+C%",+)3/%B+,%2+@*E@"G03#%+CO+3@H

!"#KJBDABD"8J?N<@=GJF<R"'<B@JGES"&T2>>NE"JBC"2<O>BC
'$M*N++1%C),2("@03#%I$*(+/@ %("G$%$MC"3/$/%,"C0/.D%+G$,%*($%."@*%B$-%D$",@:%#0G03#%@*)/$3*@%I+,$%-"D@%*+%
@"G$%*("3%$G$,%N$B+,$H%%'(,$$%C,0I",D%+CO+3@%("G$%N$#)3%*+%#"03%*,"2O+3%03%*($%I"03@*,$"I%I",1$*J

=',0,-7%?$%("G$%".-"D@%,$2+#30k$/%,$3O3#%"@%+3$%+B%*($%*+C%-"D@%B+,%@*)/$3*@%*+%@"G$%+3%*$M*N++1@:%
N)*%)3O.%,$2$3*.D:%*($%N$3$l*@%-$,$%,$@$,G$/%*+%W)@*%" %("3/B).%+B%2"IC)@$@H%6 %d+-:%@*)/$3*@%2"3%,$3*%
*$M*N++1@%+3.03$%*(,+)#(%2+IC"30$@%.01$%4($##H2+I% "3/%F++18$3*$,H2+I:% -(02(% +C$,"*$%*(,+)#(%*($%
I"0.%.01$%d$r.0MH% %'($D%2"3%".@+%,$3*%+3%2"IC)@:%3+-%*("*%.",#$%N++1@*+,$%2("03@%("G$%$MC"3/$/%,$3*".%
@$,G02$@%*+%I+,$%*("3%&:f__%2+..$#$@%*(0@%B"..H% %!)N.0@($,@%",$%$G$3%W+0303#% 03H% % 4$3#"#$%6$",303#%"3/%
;29,"-EL0..:% *-+% +B% *($%.",#$@*% *$M*N++1% 2+IC"30$@:% ".@+% N$#"3% *+% $MC.+,$% ,$3O3#% "@%"% @*,"*$#D% *+%
,$2"C*),$%@".$@%.+@*%*+%)@$/%N++1@H

>%$'4$5""6#7. !)N.0@($,@% ("G$% ".@+% N$#)3% *+% $MC"3/%*($0,% /0#0*".%+A$,03#@H% % 73% [__^:% "%2+3@+,O)I% +B%
C)N.0@($,@ %.")32($/%4+),@$<I",*:%"3% +3.03$%I",1$*C."2$%B+,% $E*$M*N++1@%*("*%@*)/$3*@ %2"3% /+-3.+"/%
"3/% ,$"/% +3% *($0,% 2+IC)*$,@H% % '(,$$% D$",@% ."*$,:% 4+),@$<I",*% +A$,@%I+,$%*("3% ^:___% $EN++1@%"3/%
2."0I@%*("*%0*@%@".$@%("G$%N$$3%#,+-03#%@*$"/0.DH ^%%;+,$%,$2$3*.D:%+*($,%2+IC"30$@%("G$%$3*$,$/%*($%$E
N++1%I",1$*:%032.)/03#% F",3$@%U%d+N.$%"3/%'$M*N++1@H2+IH% %?0*(%"%@)N@*"3O".%@)CC.D%+B%$EN++1@ %3+-%
"G"0."N.$:% ,$2$3*%@*)/0$@ %("G$%B+,$2"@*%,"C0/% "/+CO+3% ND% @*)/$3*@H g %L+-$G$,:% l3/03#@%B,+I% +),%[__g%
,$C+,*!"#$%&'!"#%%'()#*+! ,#-!./0/123!4'516##7&!8%'! 9:! 4%2(7!8*;!,#-!4#!<'1!4='>!<1%2/0=1h! @)##$@*%
*("*%*($%$MC"3@0+3%+B%$EN++1@%I"D%3+*%("CC$3%@+%i)021.DH%%'($%,$C+,*%B+)3/%*("*%*(,$$%+)*%+B%B+),%`^fma%
@*)/$3*% ,$@C+3/$3*@% C,$B$,,$/% C,03*% *$M*N++1@%*+% /0#0*".:% "3/% *("*% $E*$M*N++1@% -$,$% 0IC,"2O2".% B+,%
I"3D%@*)/$3*@%/)$%*+%(0#(%C,02$@%"3/%$M2$@@0G$%,$@*,02O+3@H

>%&'2('&#7.=G$,%*($%."@*%B$-%D$",@%$E,$"/$,@ %("G$%N$#)3%*+%#"03%C+C).",0*D%B+,%,$2,$"O+3".%,$"/03#:%"3/%
03% [__h% 5I"k+3H2+I% ,$.$"@$/% *($% l,@*% $E,$"/03#% /$G02$% /$@0#3$/% B+,% *$M*N++1@J% *($% S03/.$% TsH% % 5%
3)IN$,%+B% +*($,%/$G02$@%B+..+-$/:%032.)/03#% *($%/)".E@2,$$3$/%$T9$%ND%$3'+),"#$% "3/%5CC.$j@ %0!"/H%%
<)2(%+CO+3@%("G$%3+*%D$*%#"03$/%"%I$"@),"N.$%@(",$%03%*($%*$M*N++1@%I",1$*:%/)$%03%C",*%*+%.)1$-",I%

6 The Student PIRGs. 2005. Affordable Textbooks for the 21st Century: A Guide to Establishing Textbook Rental Services.
http://www.studentpirgs.org/textbooks/reports
7 CourseSmart has not, however, released official sales data.
8 Xplana. April 2010. Digital Textbook Sales in U.S. Higher Education — A Five-Year Projection. http://blog.xplana.com/reports/

digital-textbook-sales-in-u-s-higher-education-–-a-five-year-projection/
9 Student PIRGs, 2008

!"#$%^%%
,$@).*@%03%2."@@,++I%*,0".@ &_%"3/%.0I0*$/%"G"0."N0.0*D%+B%*$M*N++1%2+3*$3*H%%L+-$G$,:%-0*(%0!"/j@%"N0.0*D%*+%
/0@C."D%4+),@$<I",*j@%$E*$M*N++1@%"3/%$T9$j@%3$-.D%.")32($/%*$M*N++1% @*+,$:%$E,$"/$,@%2+)./%i)021.D%
N$2+I$%"%G0"N.$%+CO+3%B+,%I"3D%@*)/$3*@H%%%

?$%N$.0$G$%*($%$I$,#$32$%+B%*($@$%*(,$$%+CO+3@%@0#30l$@%" %@(0c%03%*($%I",1$*H%%d+*%+3.D%/+%@*)/$3*@%("G$%
3$-%2+@*E@"G03#%+CO+3@:%N)*%C)N.0@($,@%("G$%N$#)3%*+%$MC.+,$%3$-%N)@03$@@%I+/$.@%*("*%2+)./%I$"3%.+-$,%
C,02$@%03%*($%.+3#%,)3H

!","..$.%*+%/$G$.+CI$3*@%03%*($%*,"/0O+3".%I",1$*:%3$-%I+/$.@%B+,%*$M*N++1%C)N.0@(03#%("G$%".@+%"/G"32$/H%%
;+@*%3+*"N.D%0@%+C$3E@+),2$%*$M*N++1@:%-(02(%",$%2+..$#$%*$M*@%+A$,$/%+3.03$%)3/$,%"3%+C$3E@+),2$%.02$3@$%
"..+-03#%B,$$%/0#0*".%"22$@@:%.+-E2+@*%C,03O3#%"3/%2)@*+I0k"O+3%ND%03@*,)2*+,@H

?/',.$'4$5""6#7. >@$%+B% +C$3%*$M*N++1@%("@%I+,$%*("3%/+)N.$/%+G$,% *($%C"@*%D$",:%-0*(%"/+CO+3@%03%


I+,$% *("3% &:]__% 2+..$#$% 2."@@$@% *(0@% B"..% ".+3$H%&& % 6$"/03#% *($% I+G$I$3*% 0@% C)N.0@($,% R."*% ?+,./%
S3+-.$/#$:% -(02(% ("@%".,$"/D%,$.$"@$/%I+,$%*("3% [_%+C$3%
*$M*N++1@%"3/% ("@%+G$,% f_% I+,$% 03% *($%C0C$.03$H% % 5% .01$.D% Financial Accounting
B"2*+,% 2+3*,0N)O3#% *+% *($@$%,"C0/%#"03@%0@%*("*% )3.01$% +*($,%
$0&-"(&1(2$$3
/0#0*".%+CO+3@:%R."*%?+,./t@%+C$3%*$M*N++1@%2+I$%03%"%G",0$*D% @+,2,*+23.8**"),0,-
+B% C,02$@%"3/% B+,I"*@:%032.)/03#%"%B,$$%-$NE(+@*$/% G$,@0+3:% K+$%L+D.$%U%4H%KH%<1$3/$,
"3/% "A+,/"N.$% @+c2+G$,% C,03*% N++1@:% !TR% /+-3.+"/@:% %%%%%A&+,$7%% p[hHhf
")/0+N++1@:%"3/%$E,$"/$,%G$,@0+3@H%% %%%%%?,3+,'7% R,$$
!!!"#$%!&'()*+&!(,)-,".&/
(K<"0H?=>E<">U"(KAE")@HCO
'($%C,+#,$@@ %I"/$%+G$,%*($%."@*%B$-%D$",@%0@%C,+I0@03#:%N)*%*($,$%0@%@O..%"%.+3#%-"D%*+%#+%N$B+,$%*$M*N++1@%
",$%"A+,/"N.$%B+,% "..% @*)/$3*@H% % 6$@@ %$MC$3@0G$%+CO+3@%",$%"% #++/% @*",*:% N)*%2"3%,$3*".@:% $EN++1@%"3/%$E
,$"/$,@%N$%*($%+G$,"..%@+.)O+3% @*)/$3*@%@+%/$@C$,"*$.D%3$$/o% % =,% /+% -$%3$$/% *+%@$*%*($%N",%(0#($,%-0*(%
3$-%I+/$.@%.01$%+C$3%*$M*N++1@o

'($%<*)/$3*%!789@%2+3/)2*$/%*(0@%@*)/D%*+%$G".)"*$%*($%.+3#E*$,I% C+*$3O".%+B% ,$3*".@:%$EN++1@:%$E,$"/$,@%


"3/%+C$3%*$M*N++1@%"@%@+.)O+3@%*+% *($%(0#(% 2+@*%+B% *$M*N++1@H% %?$%)@$%+),% l3/03#@ %*+%2+32.)/$%*($%N$@*%
3$M*%@*$C%*+-",/%I"103#%*$M*N++1@%"A+,/"N.$:%3+-%*("*%*($%I+I$3*+)@%C,+G0@0+3@%B,+I%*($%LP=5%",$%3+-%
03%$A$2*H

10 "Amazon.com's Kindle fails first college test." Seattle Times. May 23, 2010. http://seattletimes.nwsource.com/html/
businesstechnology/2011938870_kindle24.html
11 "012322245&((,-,46%7),+%84%&46$9,4:0;4<=((=&+4>8=+-4?($%4@&'()4A+&!(,)-,4BC,+4D,E%F&&*84G!"#$%&%'$%&&#(.$),/=.4H,$'"I4?($%4

@&'()4A+&!(,)-,"4J7-78%4;K34;202"44

!"#$%g%%
4,-5,-7)
T),03#% *($% @C,03#% "3/% @)II$,% +B% [_&_:% *($% <*)/$3*% !789@% 2+3/)2*$/% "% *-+EC",*% @*)/D% *+% 03G$@O#"*$%
C+*$3O".%@+.)O+3@%*+%*($%(0#(%2+@*%+B%*$M*N++1@H%%'($%@*)/D%2+3@0@*$/%+B%"%@),G$D%+B%&:\[g%@*)/$3*@%B,+I%&_%
2+..$#$@% 2+..$2*$/% ND% I+,$% *("3% f_% @*)/$3*% G+.)3*$$,@:% "3/% "3% "3".D@0@% +B% C,02$@ % B+,% *$M*N++1@% 03% &_%
2+II+3%2+..$#$%@)NW$2*@H%%

?$% B+)3/% *("*% *($,$% 0@% 3+% 2+3@$3@)@% "I+3#% @*)/$3*@% +3% -(02(% +CO+3% 0@% N$@*Q% @*)/$3*% C,$B$,$32$@%
,$#",/03#% ,$3O3#%"3/%*$M*N++1%B+,I"*@%G",D% -0/$.DH% %'(0@%G",0"32$%@$G$,$.D% .0I0*@%*($%C+*$3O".%0IC"2*%+B%
2+@*E,$/)203#% +CO+3@% .01$% ,$3*".@:% $E*$M*N++1@% "3/% $E,$"/$,@:% N$2")@$% *($D% +3.D% "CC$".% *+% "% @)N@$*% +B%
@*)/$3*@H% % 73% 2+3*,"@*:% +C$3% *$M*N++1@%",$%"% 2+IC.$*$% @+.)O+3% N$2")@$%*($D% +A$,% "A+,/"N.$% C,03*%"3/%
/0#0*".%+CO+3@%*("*%@"O@BD%"..%@*)/$3*@H

4ABCABD" ;R" (<L@M>>N" JV>?CJMAGA@O" E>GH@A>BE" IHE@" JFF>II>CJ@<" J" QAC<"


?JBD<">U"E@HC<B@"=?<U<?<BF<EW
'($%,$@).*@%+B%*($%@*)/$3*%@),G$D%@(+-%*("*%@*)/$3*@%("G$%/0G$,@$%C,$B$,$32$@%,$#",/03#% *$M*N++1% B+,I"*@%
"3/% ,$3O3#H% % '(0@ %@)##$@*@%*("*% *($% @+.)O+3% *+% (0#(% *$M*N++1% 2+@*@ %-0..% +A$,% "% I).O*)/$% +B% "A+,/"N.$%
+CO+3@:%,"*($,%*("3%W)@*%+3$H

)@HC<B@E"J?<"E=GA@"M<@Q<<B"=?AB@"JBC"CADA@JGS"JBC"E>I<"IJO"=?<U<?"M>@KW
'($% @),G$D% ,$@).*@% @(+-% *("*% @*)/$3*@ % +G$,-($.I03#.D% 4,7+'&"9
C,$B$,%C,03*%*$M*N++1@%*+%/0#0*".%`@$$%R0#),$%[aH%%
^fm% +B% *($% @*)/$3*@ %@),G$D$/% @$.$2*$/% X,$#).",% C,03*% (<L@M>>N"4>?IJ@"
*$M*N++1@X%"@%*($0,%C,$B$,,$/%B+,I"*H 0?<U<?<BF< .G
H<G
[fm% +B% *($% @*)/$3*@% @),G$D$/% @$.$2*$/% /0#0*".% !,03*
*$M*N++1@% "@% *($0,% C,$B$,,$/% B+,I"*% `[&m% 2(+@$% X$E T0#0*".%`$EN++1@a I>G
*$M*N++1@X%"3/%\m%2(+@$%X$E,$"/$,@Xa T0#0*".%`$E,$"/$,@a
'($@$% ,$@).*@ % I0,,+,% l3/03#@% B,+I% "% @*)/D% -$% 2+3/)2*$/%
*-+% D$",@%"#+J% ^fm% +B% *($% @*)/$3*@% -$%@),G$D$/% 03% [__g%
C,$B$,,$/%C,03*:%"3/%[fm%C,$B$,,$/%/0#0*".H&[ % %?$%2"33+*%/,"-%"%/$l30*$%2+,,$."O+3%N$*-$$3%*($@$%,$@).*@:%
"@% *($% @),G$D% @"IC.$@ % -$,$% 3$0*($,% 0/$3O2".% 3+,% 3$2$@@",0.D% ,$C,$@$3*"OG$% +B% *($% $3O,$% @*)/$3*%
C+C)."O+3H%%L+-$G$,:%*($%@0I0.",0*D%C,+G0/$@%2+IC$..03#%$G0/$32$%*("*%/$I"3/%B+,%/0#0*".%*$M*N++1@%("@%3+*%
032,$"@$/%/,"I"O2"..DH&]

8$@).*@ %B,+I%*($%@*)/$3*%@),G$D%@(+-%*("*%I"3D%@*)/$3*@%-+)./%N$%2+IB+,*"N.$%)@03#%N+*(%C,03*%"3/%/0#0*".%
N++1:%@+%*($%N$@*%B+,I"*%B+,%@+I$%@*)/$3*@%I0#(*%N$%"%2+IN03"O+3%+B%*($%*-+H
'($%G"@*%I"W+,0*D%`h\ma%+B% *($%@*)/$3*@%@"0/%*($D%",$%X2+IB+,*"N.$X% +,% XG$,D% 2+IB+,*"N.$X% -0*(%C,03*%
*$M*N++1@H

12Student PIRGs, 2008


13It may be possible that students have not begun to embrace digital textbooks because they are not yet familiar with the
available options. However, our survey suggests this is unlikely: only 13% of the students who preferred print textbooks chose "I
don't know enough about the other options [e-books and e-readers]" as a reason for their preference.

!"#$%h%%
5.I+@*%(".B%`\^ma%@"0/%*($D%",$%X2+IB+,*"N.$X%+,%XG$,D%2+IB+,*"N.$X% -0*(%"*%.$"@*%+3$%/0#0*".%*$M*N++1%
B+,I"*%`]gm%-0*(%$E*$M*N++1@:%]]m%-0*(%$E,$"/$,@:%[]m%-0*(%N+*(aH

'($%@),G$D%".@+%"@1$/%@*)/$3*@%*+%03/02"*$%*($%,$"@+3@%B+,%*($0,%*$M*N++1%B+,I"*%C,$B$,$32$H% %5.*(+)#(%*($%
,$@).*@%G",0$/%-0/$.D:%@$G$,".%*($I$@%$I$,#$/H
8$"/"N0.0*D%0@%*($%*+C% ,$"@+3%@*)/$3*@% #"G$%B+,% C,$B$,,03#% C,03*%*$M*N++1@J% g_m% +B% *($%@*)/$3*@%-(+%
C,$B$,%C,03*%2(+@$%XN$V$,%B+,%,$"/03#%"3/%3+*$E*"103#X%"@%"%,$"@+3%B+,%*($0,%C,$B$,$32$H%
4+3G$30$32$%0@%*($%*+C%,$"@+3%@*)/$3*@%#"G$%B+,%C,$B$,,03#% /0#0*".%*$M*N++1@J%g&m%+B%*($%@*)/$3*@%-(+%
C,$B$,%$E,$"/$,@%"3/%f^m%+B%*(+@$%-(+%C,$B$,%$EN++1@%2(+@$%XI+,$%2+3G$30$3*%"3/%$"@D%*+%2",,DX%"@%"%
,$"@+3%B+,%*($0,%C,$B$,$32$H
<*)/$3*@%C,$B$,%/0A$,$3*% B+,I"*@:%N)*%B+,% *($% @"I$%,$"@+3@J% N+*(% ,$"/"N0.0*D% "3/% 2+3G$30$32$%-$,$%
"I+3#% *($% *+C% ,$"@+3@%B+,% "..%*(,$$% B+,I"*@H% % 4+@*% -"@%3+*% *($% *+C% ,$"@+3% B+,% "3D:% ".*(+)#(% *($%
i)$@O+3%-"@%"N+)*%C,$B$,$32$%3+*%C),2("@03#%("N0*@H

4,7+'&"Y

(>="(K?<<"'<JE>BE")@HC<B@E"#K>E<"(K<A?"0?<U<??<C"(<L@M>>N"4>?IJ@
A&+,$ >%B'4$5""6# >%='2('&#
8$"/"N0.0*D
% AJG 4+3G$30$32$
% >IG 4+3G$30$32$
% A<G
>@$/%*+%0*
% 4JG 4+@*
% >JG 4+@*
% KIG
4+3G$30$32$
% .IG 8$"/"N0.0*D
% KAG 8$"/"N0.0*D
% KKG

'($@$%,$@).*@%@(+-%*("*%@*)/$3*@%3+*%+3.D%("G$%/0G$,@$%B+,I"*%C,$B$,$32$@:%N)*%*($D%("G$%/0G$,@$%%'2&#*&%
B+,% *(+@$% C,$B$,$32$@H% % ?0*(+)*% 2+3@$3@)@% +3% -(02(% *$M*N++1% B$"*),$@% ",$% I+@*% /$@0,"N.$% "3/% -(02(%
+CO+3@%N$@*%+A$,%*(+@$%B$"*),$@:%0*%0@%0IC+@@0N.$%B+,%"%@03#.$%B+,I"*%*+%@"O@BD%"..%@*)/$3*@H% %'($,$B+,$:%"3D%
@+.)O+3%*+%*($%(0#(%2+@*%+B%*$M*N++1@%I)@*%+A$,%"A+,/"N.$%+CO+3@%03%N+*(%C,03*%"3/%/0#0*".%B+,I"*@H

(>"?<B@">?"@>"MHOX""8>E@"E@HC<B@E"Q>HGC"FK>>E<"M>@KW
522+,/03#% *+% *($%@),G$D:%,$3O3#%0@%"%(0#(.D% C+C).",%0/$"%"I+3#% @*)/$3*@H% % L+-$G$,:%("G03#% *($%+CO+3%*+%
C),2("@$%*$M*N++1@%0@%@O..%0IC+,*"3*H
'($%G"@*%I"W+,0*D%`h]ma%+B%*($%@*)/$3*@%-+)./%,$3*%"*% 4,7+'&"Z
.$"@*% @+I$%+B% *($0,% *$M*N++1@:% "3/% *-+E*(0,/@%`e\ma%
-+)./%,$3*%XI+@*X%+,%X"..HX .>Q"8JBO"2>>NE"
L+-$G$,:%+3.D%"%*(0,/%`]\ma%@"0/%*($D%-+)./%,$3*%233!+B% />HGC"6>H"'<B@X
*($0,% N++1@:% -(02(% I$"3@% *($% I"W+,0*D% +B% @*)/$3*@% 833
-+)./%@O..%N)D%@+I$%N++1@H 5..%`]\ma
d+3$%`^ma C"9'
8$3O3#% ("@% $3+,I+)@% C+*$3O".% "@% "% 2+@*E@"G03#% +CO+3:% ;+@*%`]_ma
@032$%3$",.D%"..%@*)/$3*@ %-+)./%-"3*%*+%*"1$%"/G"3*"#$%+B% :",'
L".B%`&ema
0*H% % L+-$G$,:% *($% 3)IN$,% *$M*N++1@%@*)/$3*@ %-+)./% ,$3*%
5%R$-%`&\ma
G",0$@% -0/$.DH% % '($,$B+,$:% B+,% ,$3O3#% *+% N$% C",*% +B% "%
@+.)O+3:% @*)/$3*@%I)@*%".@+%("G$%*($%+CO+3%*+% N)D% *($0,%
*$M*@%"*%"3%"A+,/"N.$%C,02$H%%

!"#$%&_%%
4ABCABD" 9R" '<B@JGES" <T@<L@M>>NE" JBC" <T?<JC<?E" KJP<" GAIA@<C" FJ=JFA@O" @>"
?<CHF<"F>E@E"M<FJHE<"@K<O">BGO"J==<JG"@>"J"EHME<@">U"E@HC<B@EW
'($% @*)/$3*% @),G$D% /$I+3@*,"*$@ %*("*%@*)/$3*@% ("G$%/0G$,@$%C,$B$,$32$@:% "3/%*("*% 3+%@03#.$%B+,I"*% 2"3%
@"O@BD%"..%@*)/$3*@H%%8$3*".@:%$E*$M*N++1@%"3/%$E,$"/$,@%+3.D%"CC$".%*+%"%@)N@$*%+B% @*)/$3*@:%-(02(%@$G$,$.D%
.0I0*@%*($0,%2+@*E,$/)203#%C+*$3O".H

?$% /$G$.+C$/% "%I+/$.% *+% $@OI"*$% *($% C+*$3O".% I",1$*E-0/$% @"G03#@ %+B% *($@$%+CO+3@H% % R0,@*:% -$% )@$/%
l3/03#@% B,+I% "% [__h% @),G$D% "3/% "G$,"#$% C,02$% /"*"% B,+I% &__% *$M*N++1@ %B,+I% &_% 2+II+3% @)NW$2*@% *+%
$@OI"*$%(+-%I)2(%@*)/$3*@%2),,$3*.D%@C$3/%C$,%N++1%+3%"G$,"#$%`'"N.$%&aH%%'($3:%-$%2".2)."*$/%(+-%*($@$%
l#),$@%-+)./%2("3#$%"@@)I03#%*($%I"M0I)I%3)IN$,%+B%@*)/$3*@ %"@%03/02"*$/%ND%+),%@),G$D%C),2("@$%$"2(%
+CO+3H%%R03"..D:%-$%$MC,$@@$/%*($%@"G03#@%"@%*($%"G$,"#$%"I+)3*%@*)/$3*@%-+)./%@C$3/%C$,%D$",:%2+IC",$/%
*+%*($%2),,$3*%ph__%"G$,"#$H

'<B@ABD"F>HGC"?<CHF<"@<L@M>>N"F>E@E"MO"YY[">P<?JGGW
522+,/03#% *+% +),% @),G$D:% ,$3O3#% -+)./% N$% C+C).",% "I+3#% (!2*&";
@*)/$3*@% `R0#),$% \a:% "3/% *($% @"G03#@ %",$%(0#(H% % L+-$G$,:%@032$%
I+@*%@*)/$3*@%-+)./%+3.D%,$3*%"%C+,O+3%+B% *($0,%*$M*N++1@:%*($% .>Q")@HC<B@E"2HO"(<L@M>>NE
+G$,"..%0IC"2*%0@%3+*%"@%@)N@*"3O".H ?/0", A&"/"&0", 8D-E.!"#$
'($%"G$,"#$%,$3*".%2+@*%-"@%]hm%+B%*($%C,02$%+B%"%3$-%C,03*% %%!,03*:%d$- ]hHgm p&^fH\g
*$M*N++1%`e&m%@"G03#@a:%f_m% +B% *($%"G$,"#$%"I+)3*% @C$3*% %%!,03*:%>@$/ \gH&m p&]&He&
C$,%N++1%`f_m%@"G03#@aH %%!,03*:%8$3*". &Hgm pe^Hge
%%PE'$M*N++1 _Hhm pg]Hf]
522+,/03#% *+% *($% @),G$D:% @*)/$3*@% -+)./% C),2("@$%
%%PE8$"/$, E%E p&_^Hfh
"CC,+M0I"*$.D%e^m%+B%*($0,%*$M*N++1@%"@%,$3*".@%+3%"G$,"#$%
%%d+*(03# hHfm p_H__
0B%#0G$3%*($%+CO+3%`R0#),$%\aH&\
8D'&2-'.#/',$./'&.5""67 FGHIEJK
8$3*".@% 2+)./% ,$/)2$%*($%"G$,"#$%"I+)3*% @*)/$3*@%@C$3/%
+3%*$M*N++1@%C$,%D$",%ND%]]m&f%*+%pe_[H

&T@<L@M>>NE"F>HGC"?<CHF<"@<L@M>>N"F>E@E"MO"\[">P<?JGGW
>3@),C,0@03#.D:% @*)/$3*@j% #$3$,".% C,$B$,$32$% B+,% C,03*% *$M*N++1@% .0I0*@% *($% C+*$3O".% 0IC"2*% +B% $EN++1@H%%
L+-$G$,:%$EN++1@%/+%+A$,%"%/$2$3*%/0@2+)3*%B+,%*(+@$%-(+%C,$B$,%*($%/0#0*".%B+,I"*:%"3/%*($%+G$,"..%@"G03#@%
",$%3+*%03@0#30l2"3*H
'($%"G$,"#$%2+@*%+B%"3%$E*$M*N++1%-"@%\gm%+B%*($%C,02$%+B%"%3$-%C,03*%*$M*N++1%`f[m%@"G03#@a:%"3/%e[m%
+B%*($%"G$,"#$%"I+)3*%@C$3*%C$,%N++1%`]gm%@"G03#@aH
[&m%+B%*($%@*)/$3*@%@),G$D$/%C,$B$,%$E*$M*N++1@%`R0#),$%[aH
PE*$M*N++1@%2+)./%,$/)2$%*($%"G$,"#$%"I+)3*%@C$3*%C$,%D$",%ND%gm%*+%pg]_:%"22+,/03#%*+%+),%$@OI"*$H

&T?<JC<?E"F>HGC"?<CHF<"@<L@M>>N"F>E@E"MO";[">P<?JGGW
601$%$EN++1@:%$E,$"/$,@%/+%3+*%03*$,$@*%$3+)#(%@*)/$3*@%*+%C,+/)2$%/,"I"O2%+G$,"..%@"G03#@H%%73%"//0O+3:%$E
,$"/$,@%B"2$%*($%"//0O+3".%2("..$3#$%+B%2+3G03203#%@*)/$3*@%*+%I"1$%" %@)N@*"3O".%)CB,+3*%03G$@*I$3*%03%"3%
$E,$"/03#%/$G02$H

14 Assuming "all" means the student rents 100% of their books, "most" means 75%, "half" means 50%, "a few" means 25%, and
"none" means 0%.
15 This figure is likely inflated, since our calculations assume that every textbook is available for rent. In actuality, many

textbooks cannot be rented due to frequent revisions, single use formats and consumable supplements.

!"#$%&&%%
'($%"G$,"#$%$E,$"/$,%*$M*N++1%2+@* &e %-"@%e&m%+B% *($%2+@*%+B% "%3$-%C,03*%*$M*N++1%`]hm%@"G03#@a:%"3/%
g_m%+B%*($%"G$,"#$%"I+)3*%@C$3*%C$,%N++1%`[_m%@"G03#@aH
\m%+B%*($%@*)/$3*@%@),G$D$/%C,$B$,%$E,$"/$,@%`R0#),$%[aH
PE,$"/$,@%2+)./%,$/)2$%*($%"G$,"#$%"I+)3*%@C$3*%C$,%D$",%ND%&H\m%*+%pggg:%"22+,/03#%*+%+),%$@OI"*$H

&P<B"F>IMAB<CS"?<B@JGES"<TM>>NE"JBC"<T?<JC<?E"FJBB>@"M<"J"F>I=?<K<BEAP<"E>GH@A>BW
?(0.$% "..% *(,$$% 2+@*E,$/)203#% +CO+3@% +A$,% @"G03#@% *+% @+I$%
@*)/$3*@:% *($D% B"0.% *+% $32+IC"@@% *($% $3O,$% I",1$*H% % PG$3% 0B%
(!2*&"9
@*)/$3*@%2+)./%C),2("@$%"..%+B%*($0,%N++1@ %"@%,$3*".@:%$EN++1@%+,% )HIIJ?O">U"#>IMAB<C")JPABDE
$E,$"/$,@:% +),% /"*"%@)##$@*@%*("*%@+I$%-+)./%@O..%2+3O3)$%*+% ?/0", A&"/"&0", 8D-E.!"#$
N)D%3$-%"3/%)@$/%C,03*%*$M*N++1@H
%%!,03*:%d$- &_H&m p&^fH\g
8$3*".@:%$EN++1@%"3/%$E,$"/$,@%2+IN03$/%2+)./%,$/)2$%*($% %%!,03*:%>@$/ &[H[m p&]&He&
"G$,"#$%"I+)3*%@C$3*%C$,%D$",%ND%]\m%*+%pfhgH %%!,03*:%8$3*". f_H]m pe^Hge
'($%2+IN03$/%@"G03#@%",$%3+*%I)2(% (0#($,%*("3%,$3*".@%".+3$% %%PE'$M*N++1 [&H_m pg]H\[
N$2")@$%*($,$%0@ %+G$,."C%N$*-$$3%@*)/$3*@%-(+%-+)./%,$3*%"3/% %%PE8$"/$, \H_m p&_^Hfh
*(+@$%-(+%-+)./%N)D%$EN++1@ %"3/%$E,$"/$,@H%%<032$%N+*(%/0#0*".% %%d+*(03# [H\m p_H__
+CO+3@% 2+@*% I+,$%*("3% C,03*% ,$3*".@:% *($% (0#($,% C,02$% +A@$*@% 8D'&2-'.#/',$./'&.5""67 FLIEMK
I+@*%+B%*($%@"G03#@%ND%3+3E,$3O3#%@*)/$3*@H 8D'&2-'.#2D+,-#7 HMN
'($,$B+,$:% *($% *,"/0O+3".% I",1$*% /+$@% 3+*% +A$,% "% .+3#E*$,I%
@+.)O+3%*+%*($%(0#(%2+@*%+B%*$M*N++1@:%@032$%*($%I"03%2+@*E@"G03#%+CO+3@ %b%,$3*".@:%$EN++1@%"3/%$E,$"/$,@%b%
/+%3+*%I$$*%*($%3$$/@%+B%"..%@*)/$3*@H

4ABCABD" YR" $=<B" @<L@M>>NE" FJB" C?JIJ@AFJGGO" ?<CHF<"F>E@E" U>?" JGG" E@HC<B@E"
JBC"KJP<"@K<"=>@<B@AJG"U>?"G>BDT@<?I"EHE@JABJMAGA@OW
=C$3%*$M*N++1@%("G$%*,$I$3/+)@%C+*$3O".%"@%"%@+.)O+3%*+%(0#(%*$M*N++1%2+@*@:%N$2")@$%*($D%+A$,%"%-0/$%
,"3#$%+B%"A+,/"N.$%C,03*%"3/%/0#0*".%B+,I"*@ %*("*%I$$*%*($%3$$/@%+B%"..%@*)/$3*@H%%!,03*%2+C0$@%2+I$%03%N."21%
"3/% -(0*$% "3/% 2+.+,:% @+c2+G$,% "3/% (",/2+G$,:%"3/%@*)/$3*@ %2"3%@$.BEC,03*%C",*% +,%"..% +B% *($% *$M*H% % T0#0*".%
2+C0$@%",$%*DC02"..D%B,$$:%"3/%2"3%N$%"22$@@$/%+3.03$%+,%+u03$%B,+I%"%G",0$*D%+B%/$G02$@%032.)/03#%$E,$"/$,@:%
."C*+C@%"3/%@I",*%C(+3$@H%%

?$% /$G$.+C$/% "% I+/$.% *+% $@OI"*$% *($ % C+*$3O".% (!2*&"Y


I",1$*E-0/$%@"G03#@% +B% *($@$%+CO+3@H% % ?$% 2+..$2*$/%
C,02$% 03B+,I"O+3% B+,% +C$3% *$M*N++1@% B,+I% *($% &_% .>Q")@HC<B@E"/>HGC"2HO"$=<B"(<L@M>>NE
2+..$#$% @)NW$2*@% -$% "3".Dk$/% B+,% *,"/0O+3".%*$M*N++1% ?/0", A&"/"&0", 8D'&2-'.!"#$
C,02$@H% % '($3:% -$% )@$/% @*"O@O2@% B,+I% +),% @*)/$3*% %%!,03*:%4+.+, hH]m pe]Hhf
@),G$D% *+% $@OI"*$% *($% C,+C+,O+3% +B% @*)/$3*@% *("*% %%!,03*:%FU? f_H^m p]fH^_
-+)./%C),2("@$%$"2(%+C$3%*$M*N++1%B+,I"*%`'"N.$%]aH%% %%T0#0*".%v%!,03O3# [_Hhm p&^H]^
R,+I%*($,$:% -$%2".2)."*$/% *($% "G$,"#$%@"G03#@% N"@$/% %%T0#0*".%=3.D &hH&m p_H__
+3%-("*%@*)/$3*@%2),,$3*.D%@C$3/%`'"N.$%&aH 8D'&2-'.#/',$./'&.5""67 FKOEPL

16 Includes the pro-rated average cost of an e-reading device, assuming 8 semesters at 4 classes each ($14.50).

!"#$%&[%%
$=<B"@<L@M>>NE"F>HGC"?<CHF<"F>E@E"MO"\:[">P<?JGGW
522+,/03#% *+%*($% @),G$D%"3/%+),%C,$G0+)@%,$@$",2(:% I"3D% @*)/$3*@%-+)./%N$%-0..03#% *+%C),2("@$%+CO+3".%
(",/%2+C0$@%"3/%$3("32$/%B$"*),$@:%$G$3%*(+)#(%+C$3%*$M*N++1@%",$%".@+%B,$$%+3.03$H%
e_m%+B%*($%@*)/$3*@%-$%@),G$D$/%03%[__g%-+)./%C),2("@$%"3%"A+,/"N.$%`p[_E\_a%C,03*%2+CD%,"*($,%*("3%
)@$%"%B,$$%/0#0*".%N++1H
=B%*($%@*)/$3*@%-(+%C,$B$,,$/%C,03*%*$M*N++1@:%^&m%@"0/%*($D%-+)./%C,$B$,%"%.$@@%$MC$3@0G$:%N."21%"3/%
-(0*$%C,03*%2+CD:%"3/%[hm%-+)./%C,$B$,%"%I+,$%$MC$3@0G$:%B)..%2+.+,%2+CDH
=B% *($% @*)/$3*@% -(+% C,$B$,,$/% /0#0*".%*$M*N++1@%03% +),% [__h% @),G$D:% ^&m% -+)./% C,$B$,% *+% ("G$% *($%
+CO+3%*+%C,03*%+)*%@$2O+3@:%"3/%]]m%-+)./%C"D%$M*,"%*+%("G$%*("*%+CO+3H
R,+I%*($@$%@*"O@O2@%"3/%*($%"G$,"#$%C,02$%+B%$"2(%+C$3%*$M*N++1%B+,I"*%`'"N.$%[a:%-$%2".2)."*$/%(+-%I)2(%
@*)/$3*@%-+)./%@"G$%ND%)@03#%+C$3%*$M*N++1@H
=C$3%*$M*N++1@%2+)./%,$/)2$%*($%"G$,"#$%"I+)3*%@C$3*%C$,%D$",%ND%g_m%*+%p&g\H
=C$3% *$M*N++1@% 2"3% ,$/)2$% 2+@*@% @)N@*"3O"..D% -(0.$% "22+II+/"O3#% *($% B+,I"*% "3/% C),2("@03#%
C,$B$,$32$@%+B% "..%@*)/$3*@:%-(02(%I"1$@%*($I%" %2.$",%@+.)O+3%*+%*($%(0#(%2+@*%+B%*$M*N++1@H%%L+-$G$,:%*($%
@)22$@@% +B% +C$3% *$M*N++1@% 0@% /$C$3/$3*% +3% -($*($,% C)N.0@(03#% I+/$.@% 2"3% /$G$.+C% *+% C,+/)2$% "3/%
I"03*"03%(0#(%i)".0*D%*$M*@H

)HE@JABJMG<">=<B"@<L@M>>N"I>C<GE"J?<"=>EEAMG<W
8$@).*@ %B,+I%*($%@*)/$3*%@),G$D%/$I+3@*,"*$%*("*%@)@*"03"N.$%+C$3%*$M*N++1%I+/$.@%2+)./%N$%C+@@0N.$%03%
*($%.+3#%*$,IH%%'($%l3/03#@%"N+G$%@(+-%*("*%@*)/$3*@%",$%-0..03#%*+%C),2("@$%".*$,3"*$%B+,I"*@%$G$3%03%*($%
C,$@$32$%+B%"%B,$$%+3.03$%+CO+3H%%5//0O+3".%l3/03#@%B,+I%*($%@),G$D%B),*($,%@)##$@*%*("*%@*)/$3*@%-0..%C"D%
B+,%@$,G02$@%*($D%G".)$H

;+,$%*("3%*(,$$Ei)",*$,@%`^ema%+B%*($%@*)/$3*@%-$%@),G$D$/%-+)./%N$%@)CC+,OG$%+B%C"D03#%"%@I"..%B$$%
$"2(%@$I$@*$,%*("*%-+)./%@)N@0/0k$%")*(+,@%*+%-,0*$%+C$3%*$M*N++1@H
?(0.$%"%@*)/$3*%B$$%0@%3+*%3$2$@@",0.D%"%B$"@0N.$%@+),2$%+B%B)3/03#:%*($%@$3OI$3*%)3/$,@2+,$@%*($%B"2*%*("*%
@*)/$3*@%",$%"3%"2OG$%2+3@)I$,%#,+)C%*("*%@$$1@%I$"303#B).%2("3#$H% % <*)/$3*%@C$3/03#%2+)./%@$,G$%"@%"%
B+)3/"O+3%B+,%")*(+,%032+I$%"3/%3$-%C)N.0@($,%N)@03$@@%I+/$.@H%

(K<"FHIHGJ@AP<"EJPABDE">U">=<B"@<L@M>>NE"JCC"H=W
'($%$M"IC.$@%N$.+-%0..)@*,"*$%*($%C+*$3O".%@"G03#@%+B%)@03#%+C$3%*$M*N++1@%,"*($,%*("3%*,"/0O+3".%*$M*@H

AW<#+*# !23*)3)# >*","9+*# 83-'5&2


!0"$%&'()*&$+,-.. !"#$%&'()*&$+,-.. /#$%&'()*&$+,-.. "#$%&'()*&$+,-..

40
1(k
)

FKMQIOI FKJQGGI FGJQGGM FIQMPK


M.X'2&#."1.B)+0",.8$. R";,.A2<9',$ FOIQJJJ.MJGT6U. G.X'2&.?1.!2&.
Y";2.C$2$' .?,.@+&#$.S")#' 2V'&.MJ.<'2&# A2<9',$#

!"#$%&]%%
#$-#*+),$-
=G$,"..:% *(0@% @*)/D% /$I+3@*,"*$@% *("*% *($% @+.)O+3% *+% *$M*N++1% 4,7+'&"]
"A+,/"N0.0*D% I)@*%N+*(%,$/)2$%2+@*@%"3/%"//,$@@%*($%-0/$% G",0"32$%
03%@*)/$3*%C,$B$,$32$@%ND%+A$,03#%"%,"3#$%+B%"A+,/"N.$%2(+02$@H )HIIJ?O">U")JPABDE
?$% B+)3/% *("*% 2+@*E,$/)203#% +CO+3@ % B+,% *,"/0O+3".% *$M*N++1@% b% AJG
,$3*".@:%$EN++1@%"3/%$E,$"/$,@%b% /+%3+*%@"O@BD%*($%C,$B$,$32$@%+B% "..%
@*)/$3*@H% % PG$3% 2+IN03$/:% *($@$% +CO+3@%+3.D% $M*$3/% @"G03#@%*+% "%
C+,O+3% +B% *($% I",1$*:% 2+3/$I303#% *($% ,$@*% *+% *($% @*"*)@% i)+% +B%
$MC$3@0G$%3$-%"3/%)@$/%N++1@H%%?(0.$%*($@$%2+@*E@"G03#%+CO+3@ %-0..%
KKG
,$I"03% 0IC+,*"3*% 03% *($% @(+,*% *$,I:% *($0,% C+*$3O".% 0IC"2*% 0@% *++%
.0I0*$/%*+%N$%"%@+.)O+3%B+,%*($%B)*),$H AG <G
=3%*($%+*($,%("3/:%-$%B+)3/%*("*%+C$3%*$M*N++1@%",$%"%B",E,$"2(03#% =C$3%'$M*N++1@ 8$3*".@
@+.)O+3%B+,%*($%.+3#%*$,IH%%5@%"3%".*$,3"OG$%I+/$.:%*($D%2"3%,$/)2$%
PE'$M*N++1@ PE8$"/$,@
+G$,"..%2+@*@%ND% "3%)3C,$2$/$3*$/%g_m%-(0.$%".@+%+A$,03#% "%G",0$*D%
+B%C,03*%"3/%/0#0*".%B+,I"*@%*("*%"22+II+/"*$@%*($%B)..%@C$2*,)I%+B%
@*)/$3*@H%%

73%"//0O+3%*+%*($0,%)CB,+3*%C+*$3O".%*+%,$/)2$%2+@*@:%+C$3%*$M*N++1@%2"3%($.C%,$/)2$%2+@*@%03%*($%.+3#%,)3H%%
>3.01$%*,"/0O+3".%*$M*N++1@:%+C$3%*$M*N++1@%",$%B,$$%+3.03$:%-(02(%I"1$@%C),2("@03#%C,03*%2+C0$@%"3/%+*($,%
B+,I"*@%+CO+3".H%%'(0@%I",1$*%@*,)2*),$%032$3OG0k$@%C)N.0@($,@%*+%$",3%@*)/$3*@j% N)@03$@@%ND%" %-0/$,%,"3#$%
+B%C,+/)2*@%"*%B"0,%C,02$@H%%73%*(0@%-"D:%+C$3%*$M*N++1@%NDC"@@%*($%I",1$*%B"0.),$%,$@C+3@0N.$%B+,%(0#(%2+@*@:%
-(02(% @"B$#)",/@% "#"03@*% B)*),$% $MC.+0*"O+3% +B% @*)/$3*@H% % 73%
^$=<B"@<L@M>>NE"QAGG"B>@">BGO"IJN<"" 2+3*,"@*:% +CO+3@% .01$% ,$3*".@:% $EN++1@% "3/% $E,$"/$,@ % +A$,% 3+%
@<L@M>>NE" JV>?CJMG<S" MH@" @K<O" QAGG" @)2(% C,+*$2O+3@:% "3/% -+)./% "..+-% C,02$@% *+% 2+3O3)$% ,0@03#% "*%
*($0,% 2),,$3*%,"*$@H% % =C$3% *$M*N++1@ %3+*%+3.D% I"1$% *$M*N++1@%
IJN<"EH?<"@K<O"E@JO"@KJ@"QJO^
"A+,/"N.$:%N)*%".@+%*($D%I"1$%@),$%*($D%@*"D%*("*%-"DH

'($%C,0I",D%2("..$3#$%0@%/$G$.+C03#%I+/$.@%*("*%2"3%2,$"*$%"3/%@)@*"03%(0#(Ei)".0*D%+C$3%*$M*N++1@H%%?(0.$%
*($%2),,$3*%@)CC.D% 0@%$MC"3/03#% i)021.D:% +C$3%*$M*N++1@%",$%+3.D%"G"0."N.$%B+,%" %B,"2O+3%+B% 2+),@$@%"3/%0*%
,$I"03@ %*+%N$%@$$3%-($*($,% @)@*"03"N.$%I+/$.@%",$%C+@@0N.$H% % =),%,$@$",2(%@)##$@*@%*("*%*($%C+*$3O".%0@%
*($,$H%%'(0@%@*)/D%l3/@%*("*%@*)/$3*@%",$%-0..03#%*+%C),2("@$%C,+/)2*@%*($D%G".)$:%$G$3%03%*($%C,$@$32$%+B%"%
.+-$,E2+@*%+,% B,$$% ".*$,3"OG$H% %'($% @".$%+B% C,03*%2+C0$@:%@)CC.$I$3*@%"3/%$3("32$I$3*@%*($,$B+,$%2+)./%
@$,G$%"@%"%B+)3/"O+3% B+,%C)N.0@($,% ,$G$3)$H% %'($%I+I$3*)I%N$(03/%.$"/03#%2+II$,20".%+C$3% *$M*N++1%
C)N.0@($,%R."*%?+,./%S3+-.$/#$%("@%".,$"/D%C,+G$3%*("*%@)2(%I+/$.@%2"3%N$%@)22$@@B).H%%

?$%*($,$B+,$%2+32.)/$%*("*%*($%3$M*%@*$C%*+-",/%I"103#% *$M*N++1@ %"A+,/"N.$%0@%*+%C,+I+*$%*($%2,$"O+3%


"3/%"/+CO+3%+B%I+,$%+C$3%*$M*N++1@H%%d+-%*("*%*($%B$/$,".%C,02$%/0@2.+@),$%."-%B,+I%*($%L0#($,%P/)2"O+3%
=CC+,*)30*D%52*%("@%I"/$%2+@*%03*$#,".%*+%*($%*$M*N++1%I",1$O3#%"3/% @$.$2O+3%C,+2$@@:%C,+I+O3#%+C$3%
*$M*N++1@%2"3%2,$"*$%C,$@@),$%B+,%C)N.0@($,@%*+%.+-$,%*($0,%C,02$@H

!"#$%&\%%
'&#$88&-5!(,$-)
;W"0HMGAEK<?E"EK>HGC"@?JBEA@A>B"@>"I>C<GE"@KJ@"J?<"I>?<"<_FA<B@
;"W+,% C)N.0@($,@%3$$/% *+%/$G$.+C% 3$-% I+/$.@%*("*% 2"3% 2,$"*$% (0#(%i)".0*D% *$M*N++1@%-0*(+)*% 0IC+@03#%
$M2$@@0G$%2+@*@%+3%@*)/$3*@H%%?(0.$%-$%"CC,$20"*$%*("*%C)N.0@($,@%("G$%N$#)3%*+%$MC.+,$%I+,$%2+@*%$A$2OG$%
+CO+3@%.01$%,$3*".@:%$EN++1@%"3/%$E,$"/$,@:%+),%@*)/D%@(+-@%*("*%*($%C+*$3O".%@"G03#@ %-0..%3+*%$32+IC"@@%
*($%$3O,$%I",1$*H% %!)N.0@($,@%@(+)./%*,"3@0O+3%*+%I+/$.@%*("*%",$%I+,$%$q20$3*%"3/%*("*%2"3%2"*$,%*+%*($%
3$$/@%+B%"..%@*)/$3*@:%@)2(%"@%+C$3%*$M*N++1@H

<+I$% C)N.0@($,@% ("G$% ".,$"/D% N$#)3% *+% C0+3$$,% @)2(% N)@03$@@% I+/$.@:% "3/%
.$"/03#%*($%-"D%0@%R."*%?+,./%S3+-.$/#$H%R+)3/$/%03%[__^%ND%C)N.0@(03#% 03/)@*,D%
G$*$,"3@:% R."*% ?+,./% ("@%C)N.0@($/%I+,$% *("3% [_% +C$3%*$M*N++1@%)@$/% ND% &:]__%
$/)2"*+,@% +3% g__% 2+..$#$% "3/% )30G$,@0*D% 2"IC)@$@ %3"O+3-0/$H &^ % 601$% "..% +C$3%
*$M*N++1@:%R."*%?+,./j@%N++1@%",$%B,$$%B+,%@*)/$3*@%*+%,$"/%+3.03$H%% '($%2+IC"3D%
#$3$,"*$@%,$G$3)$%+3% *($% @".$%+B% +CO+3".% 0*$I@J% @+c2+G$,% C,03*% N++1@% 03% N."21%
"3/% -(0*$%"3/% B)..%2+.+,:%!TR% /+-3.+"/@:%")/0+N++1@:% $E,$"/$,%G$,@0+3@:% "3/% @*)/D% "0/@:% 032.)/03#% ")/0+%
@*)/D% #)0/$@:% 03*$,"2OG$% i)0kk$@% "3/% /0#0*".% Z"@(2",/@H% % '(0@% @*)/D% @)##$@*@% *("*% @*)/$3*@% ",$% .01$.D% *+%
C),2("@$%*($@$%0*$I@%0B%@+./% "*%"A+,/"N.$%C,02$@:% "3/%R."*%?+,./%S3+-.$/#$j@%$MC$,0$32$%*()@%B",% B),*($,%
@)CC+,*@%*(0@%*($+,DQ%+G$,%f_%C$,2$3*%+B%@*)/$3*@%$3/%)C%N)D03#%"*%.$"@*%+3$%C,+/)2*H

R."*%?+,./j@%+C$3%*$M*N++1%I+/$.%"3/%+3.03$%*$2(3+.+#D% !-"!+(.$'`)"0&')0&#(,%&
C."r+,I% ("@% @$G$,".% "/G"3*"#$@% +G$,% *,"/0O+3".%
C)N.0@(03#H% %R0,@*:%)@03#%C,03*%+3%/$I"3/%*$2(3+.+#D%"3/% X8+D".O$@% +3% ID% R."*% ?+,./%
/0#0*".%/$.0G$,D%I"1$%*($%@)CC.D% 2("03%@)N@*"3O"..D%I+,$% N++1% ",$% *,"2103#% ID% +*($,%
2+@*%$A$2OG$H% % <$2+3/:% @".$@% ,$G$3)$%,$I"03@%2+3@*"3*% w*,"/0O+3"..D% C)N.0@($/x% N++1@:%
B,+I%D$",%*+%D$",:%,"*($,% *("3% /-03/.03#% +G$,% *($%.0B$%+B% @+% 0*%.++1@%.01$% *("*% C"DN"21%-0..%
"3% $/0O+3%/)$%*+% )@$/% N++1@H% % <*$"/D% 032+I$% 3+*% +3.D% N$%B"@*$,% "3/%#,$"*$,H%!$,@+3"..D:%
I"1$@%*($%2+IC"3D%I+,$%$q20$3*:%N)*%0*%("@%".@+%($.C$/% 0*%".@+%B$$.@%#++/%*+%N$%"N.$%+A$,%
*($I% "V,"2*% *+CE3+*2(% ")*(+,@% -(+% ",$%B,)@*,"*$/% -0*(% @*)/$3*@% "%(0#(% i)".0*D%.$",303#%
Z)2*)"O3#%,+D".O$@%B,+I%*($%*,"/0O+3".%I+/$.H%%5.@+:%R."*% $MC$,0$32$:% "3/% 2(+02$@% "N+)*%
?+,./% C"D@%"% (0#($,%,+D".*D% ,"*$%b% "N+)*% [_m:% -($,$"@% (+-%I)2(%*($D%C"DH%X
*,"/0O+3".%C)N.0@($,@%*DC02"..D% C"D% &[E&fmH% % R03"..D:% R."*% 123$ 4-.5*$ +-26)*&)2!=2&! 2$1=#%';! 1'516##7&! 6#1=!
?+,./t@% +3.03$% *$2(3+.+#D% C."r+,I% "3/% 2)@*+I0k"O+3% -/1=!?'2%&#*@!2!1%2;/)#*23!A$63/&='%@!2*;!B321! C#%3;!
*++.@%I"1$%0*%$"@D%B+,%B"2).*D%*+%I+/0BD%*($0,%*$M*N++1@%*+% D*#-3';0'@!2*!#A'*!1'516##7!A$63/&='%E
@)0*%*($0,% 2+),@$H% % '(0@% B$"*),$:% 2+)C.$/% -0*(% *($0,% .+-%
C,02$@:%("@%"V,"2*$/%3)I$,+)@%B"2).*DH

R."*%?+,./j@%@)22$@@%0@%C,+I0@03#Q% (+-$G$,:% 0*% ,$I"03@%*+%N$% @$$3%-($*($,% *($%2+IC"3D%2"3% 2+3O3)$%0*@%


*,"W$2*+,D%+3%"%.",#$,% @2".$H% %d$G$,*($.$@@:%*($%N$3$l*@ %+B% *(0@%I+/$.%B+,%@*)/$3*@:%C)N.0@($,@%"3/%")*(+,@%
".01$% ",$% )3I0@*"1"N.$H% % ;"W+,% C)N.0@($,@% @(+)./% *"1$% "% .$@@+3% B,+I% R."*% ?+,./j@% @)22$@@% "3/% 2+3@0/$,%
*,"3@0O+303#%*+%+C$3%*$M*N++1@H

"012322245&((,-,46%7),+%84%&46$9,4:0;4<=((=&+4>8=+-4?($%4@&'()4A+&!(,)-,4BC,+4D,E%F&&*84G!"#$%&%'$%&&#(.$),/=.4H,$'"I4?($%4
17

@&'()4A+&!(,)-,"4J7-78%4;K34;202"4

!"#$%&f%%
9W"4JFHG@O"EK>HGC"F>BEAC<?"JC>=@ABD">=<B"@<L@M>>NE
R"2).*D%",$%03%"%)30i)$%C+@0O+3%*+%"/G"32$%*$M*N++1%"A+,/"N0.0*D:%@032$%*($0,%"/+CO+3%/$20@0+3@ %/$*$,I03$%
3+*%+3.D% (+-% I)2(% @*)/$3*@%-0..%@C$3/:%N)*%".@+% (+-% I)2(% C)N.0@($,@% -0..%@$..H% %?$%@*,+3#.D%$32+),"#$%
B"2).*D% *+% @$$1:% 2+3@0/$,% "3/% "/+C*% +C$3% *$M*N++1@% "3/% +*($,% .+-E2+@*% +CO+3@% -($3$G$,% C+@@0N.$H%%
5.*(+)#(%B"2).*D% -0..%).OI"*$.D%@$.$2*%*($%*$M*N++1% *("*%
!"0'$4&))$'`)"0&')0&#(,%& 0@ %I+@*%"CC,+C,0"*$%B+,%*($0,%@*)/$3*@:%2+3@0/$,03#%+C$3%
*$M*N++1@%2"3% $M$,*%@0#30l2"3*% 2+IC$OOG$% C,$@@),$%+3%
X=G$,% *($% D$",@% 7jG$% 3+O2$/% C)N.0@($,@ % –% $@C$20"..D% 3+-% *("*% B$/$,".% ,$#)."O+3@%
I"3D% +B% ID% @*)/$3*@% B+,#+03#%
,$i)0,$%C,02$%/0@2.+@),$H
*($0,% *$M*@% /)$% *+% l3"320".%
(",/@(0C:% C",O2).",.D% @032$% *($% =),%$MC$,0$32$%03%*($%l$./%("@%N$$3%*("*%C,+B$@@+,@%",$%
$2+3+I02%/+-3*),3HX% /$$C.D%2+32$,3$/%"N+)*%(0#(%*$M*N++1%2+@*@H%%;+,$%*("3%
123$ 13$ %&)7)*$ 89:&)! &2F';! =/&! [:f__% B"2).*D% I$IN$,@% B,+I% ^f_% >H<H% 2+..$#$@% ("G$%
&1$;'*1&! >#%'! 1=2*! GHH@III! 6J! @0#3$/% *($% =C$3% '$M*N++1@%<*"*$I$3*:%-(02(% $MC,$@@$@%
&-/1(=/*0!1#!#A'*!1'516##7&E *($0,% 03*$3*% *+% 2+3@0/$,% )@03#% (0#(% i)".0*D% +C$3%
*$M*N++1@%-($3$G$,%"CC,+C,0"*$H&g%

YW"#>GG<D<E"JBC"D>P<?BI<B@"EK>HGC"EH==>?@"@K<"F?<J@A>B">U">=<B"@<L@M>>NE
4+..$#$@% 2"3% ($.C% 2,$"*$% +C$3% *$M*N++1@ % ND% B)3/03#% "3/% +,#"30k03#% +C$3% *$M*N++1% ")*(+,@% "3/% ND%
C,+I+O3#% "-",$3$@@%+B% +C$3% *$M*N++1@ %"I+3#% *($0,% B"2).O$@H% % =3% *($% 2"IC)@% .$G$.:% *($D% 2"3% C,+G0/$%
2+IC$3@"O+3%B+,% B"2).*D% I$IN$,@%-(+%-,0*$%+,% 2)@*+I0k$% +C$3%*$M*N++1@%"3/% +,#"30k$%-+,1@(+C@%"3/%
*,"0303#@H% % =3% *($% 3"O+3".% .$G$.:% 2+..$#$@ %2"3% C++.% ,$@+),2$@ %-0*(% +*($,% 03@O*)O+3@% B+,% +C$3% *$M*N++1%
/$G$.+CI$3*%"3/%i)".0*D%"@@),"32$H%%5%3)IN$,%+B%03@O*)O+3@%("G$%".,$"/D%.")32($/%$M$IC.",D%030O"OG$@J
;+,$% *("3% [__% 2+..$#$@% ("G$% W+03$/% *($% 4+II)30*D% 4+..$#$% 4+3@+,O)I% B+,% =C$3% P/)2"O+3".%
8$@+),2$@:&h % -(02(%0@%"%2+.."N+,"OG$%$A+,*%*+%2,$"*$:%,$G0$-% "3/%C,+I+*$%+C$3%*$M*N++1@%B+,%)@$%ND%
2+II)30*D%2+..$#$%@*)/$3*@ %"3/%B"2).*DH%%5%,$."*$/%030O"OG$:%4+..$#$%=C$3%'$M*N++1@:%("@%*,"03$/%I+,$%
*("3%&__%B"2).*D%"/G+2"*$@%B+,%+C$3%*$M*N++1@%+G$,%*($%C"@*%D$",H%
'($%>30G$,@0*D%+B%7..03+0@%,$2$3*.D%+N*"03$/%"%#,"3*%B,+I%*($%>H<H%T$C",*I$3*%+B% P/)2"O+3%*+%/$G$.+C%
"3%+C$3%*$M*N++1%B+,%)@$%03%7..03+0@%"3/%"*%2+..$#$@%"2,+@@%*($%2+)3*,DH
'($%>30G$,@0*D%<D@*$I%+B% =(0+%.")32($/%"%C,+#,"I%03%[__g%/$@0#3$/%*+%032$3OG0k$%"3/%,$-",/%B"2).*D%
-(+% /$G$.+C% 033+G"OG$:% .+-E2+@*% 2+),@$% I"*$,0".@H% % '(0@% D$",j@%,$20C0$3*@% +B% *($%R"2).*D% 733+G"*+,%
5-",/%032.)/$%4",.%<O*k%"3/%K$A%y$"#$,:%")*(+,@%+B%"3%5.#$N,"%+C$3%*$M*N++1H
9+G$,3I$3*%2"3%($.C%ND%03G$@O3#%B)3/@%"3/%C,+#,"II"O2%@)CC+,*%*+%2,$"*$%I+,$%+C$3%*$M*N++1@H%%?(0.$%
*($%*$M*N++1@%I",1$*%@(+)./%3+*%/$C$3/%+3%#+G$,3I$3*%B)3/03#%03%*($%.+3#% *$,I:%0*%2+)./%C,+G0/$%I)2(E
3$$/$/% 2"C0*".% *+% B)$.% 033+G"O+3% 03% *($% @(+,*% *$,IH% % 5c$,% *($% I+I$3*+)@% ,$B+,I@ %*+% *($% @*)/$3*% "0/%
@D@*$I%+G$,% *($%."@*%B+),%D$",@:%2).I03"O3#%03%*($%C"@@"#$%+B% *($%L$".*(%4",$%"3/%P/)2"O+3%5A+,/"N0.0*D%
8$2+320.0"O+3%52*%03%;",2(%[_&_:%*"21.03#%*($%2+@*%+B%*$M*N++1@%0@%"3%0IC+,*"3*%3$M*%@*$C%03%2+IC,$($3@0G$%
@*"*$%"3/%B$/$,".%$A+,*@%*+%,$03%03%*($%2+@*%+B%(0#($,%$/)2"O+3H%%

18 See www.studentpirgs.org/open-textbooks/faculty-statement.
19 See www.oerconsortium.org and www.collegeopentextbooks.org.

!"#$%&e%%
<$3"*+,% T021% T),N03% `TE76a% 03*,+/)2$/%*($%=C$3% 4+..$#$% '$M*N++1% 52*% `<H%&^&\a% 03%<$C*$IN$,% [__h:%
-(02(% -+)./% $@*"N.0@(% " % B$/$,"..D% B)3/$/% 2+IC$OOG$% #,"3*% C,+#,"I% *+% 2,$"*$% (0#(Ei)".0*D:%
03*,+/)2*+,DE.$G$.%+C$3%*$M*N++1@%B+,%C+C).",%2+..$#$%2+),@$@H
'($%<*"*$%+B% ?"@(03#*+3%"3/%*($%F0..%"3/% ;$.03/"%9"*$@%R+)3/"O+3%W+03*.D% B)3/$/%*($%=C$3%4+),@$%
60N,",DJ% "% C,+W$2*% *+% /$G$.+C% +C$3% 2+),@$% I"*$,0".@:% 032.)/03#% +C$3% *$M*N++1@:% B+,% *($% g&% (0#($@*%
$3,+..$/%2+),@$@%03%?"@(03#*+3%<*"*$t@%]\%2+II)30*D%"3/%*$2(302".%2+..$#$@H%%
73%[__h:%*($%>H<H%T$C",*I$3*%+B%P/)2"O+3%"33+)32$/%*($%5I$,02"3%9,"/)"O+3%730O"OG$:%-(02(%-+)./%
("G$%/$G+*$/%pf__%I0..0+3%*+% *($%2,$"O+3%+B% +3.03$:%+C$3.D%.02$3@$/%2+II)30*D%2+..$#$%2+),@$@%"3/%
2+),@$%I"*$,0".@%B+,%)@$%"*%[ED$",%"3/%\ED$",%@2(++.@%"2,+@@%*($%2+)3*,DH

ZW")@HC<B@E"EK>HGC"@JN<"JF@A>B
<*)/$3*@%2"3%C."D%"%,+.$%03%@)CC+,O3#%+C$3%*$M*N++1@%ND%#$n3#%*($%-+,/%+)*%*+%*($0,%C,+B$@@+,@:%2"IC)@$@%
"3/%2+II)30O$@H [_% %73%*($%B"..%+B%[__h:%*($%<*)/$3*%!789@%.")32($/%"%3"O+3-0/$%$A+,*%*+%C,+I+*$%B"2).*D%
"/+CO+3% +B% +C$3% *$M*N++1@H% % ;+,$% *("3% &__% @*)/$3*% G+.)3*$$,@% C",O20C"*$/% 03% "% T"D% +B% 52O+3% *("*%
$/)2"*$/%I+,$%*("3%[:___%C,+B$@@+,@ %03%"%@03#.$%/"DH%%'(,+)#(+)*%[_&_:%<*)/$3*%!789%G+.)3*$$,@%("G$%I$*%
-0*(%()3/,$/@ %+B%B"2).*D%*+%C,+G0/$%03B+,I"O+3%"N+)*%+C$3%*$M*N++1@ %"G"0."N.$%03%*($0,%2+),@$@H%%5*%.$"@*%]_%
+B% *($% C,+B$@@+,@% 2+3*"2*$/% ND% *($@$% $A+,*@% ("G$% ".,$"/D% I"/$% *($% @-0*2(% *+% +C$3% *$M*N++1@:% @"G03#%
@*)/$3*@%*(+)@"3/@%+B%/+..",@%+3% "G$,"#$H% %'($%<*)/$3*%!789@%-0..%2+3O3)$%*(0@%2"IC"0#3%*(,+)#(+)*%*($%
[_&_E[_&&%@2(++.%D$",:%2+)C.$/%-0*(%$A+,*@%*+%C,+I+*$%"-",$3$@@%+B%*($%L0#($,%P/)2"O+3%=CC+,*)30*D%52*%
C,02$%/0@2.+@),$%C,+G0@0+3H

20For more information on how to take action on campus and join the Student PIRGs' Make Textbooks Affordable campaign,
see www.studentpirgs.org/take-action.

!"#$%&^%%
8&(.$5$*$76
)@HC<B@")H?P<O )@HC<B@")H?P<OE"#>GG<F@<C
!"33'-' C)&D'<#
'($%l,@*%(".B%+B%*($%@*)/D%2+3@0@*$/%+B%"%@),G$D%2+3/)2*$/%/),03#%
6"3$%4+II)30*D%4+..$#$ f]
;",2(% [_&_H% % ;+,$% *("3% f_% <*)/$3*% !789% @*"A% "3/% @*)/$3*%
<+)*($,3%=,$#+3%>30GH f_
G+.)3*$$,@%2+3/)2*$/% "3% "3+3DI+)@:% I).OC.$%2(+02$% @),G$D% +B%
>4%<"3%T0$#+ g^
&:\[g%@*)/$3*@%B,+I%&_%2+..$#$@%03%^%@*"*$@H% %R,+I%*($%@*",*:%-$%
>4%<"3*"%F",N"," &e_
,$2+#30k$/%*("*%@$.$2O3#%" %*,).D%,"3/+I%@"IC.$%*+%,$C,$@$3*%*($%
>30GH%+B%4+.+,"/+%F+)./$, &_g
&h% I0..0+3% ><% 2+..$#$% @*)/$3*@% -+)./% N$% /0q2).*:% 0B% 3+*%
0IC+@@0N.$H% % '($,$B+,$:% -$% 2(+@$% " % I$*(+/+.+#D% *("*% -+)./% >30GH%+B%4+33$2O2)* \\g
$IC("@0k$%2+..$2O3#%"%.",#$%3)IN$,%+B% +CC+,*)30@O2%,$@C+3@$@% >30GH%+B%;"@@H%F+@*+3 hf
*("*%-+)./%C,+G0/$%"%#$3$,".%@3"C@(+*%+B%@*)/$3*%+C030+3@H >30GH%+B%=,$#+3 &f[
>30GH%+B%?"@(03#*+3 &&^
#>GG<F@A>B >30GH%+B%?0@2+3@03%;"/0@+3 &fg

'($%I"W+,0*D% +B% *($%@),G$D@%-$,$%2+..$2*$/%ND% !789% G+.)3*$$,@%-0*(%2.0CN+",/@%03%N)@D% ",$"@%+3%2"IC)@H%%


z+.)3*$$,@%-+)./%"CC,+"2(%@*)/$3*@%"@%*($D% C"@@$/% "3/% "@1% *($I% *+% @*+C%*+% *"1$%*($%@),G$DH% % <*)/$3*@%
-+)./%*($3%l..%+)*%"%@),G$D%B+,I%"3/%*),3%0*%03H% %5% @I"..%3)IN$,%+B%@),G$D@%-$,$%2+..$2*$/% 03%2."@@$@%"3/%
@*)/$3*%#,+)C%I$$O3#@H% %5..%G+.)3*$$,@%-$,$%"@1$/%*+%)@$%"%@*"3/",/%@2,0C*%-($3%"@103#% @*)/$3*@%*+%*"1$%
*($% @),G$D%*+% "G+0/%)303*$3O+3"..D%N0"@03#%,$@C+3@$@H% % =32$%*($%@),G$D@%-$,$%2+..$2*$/:%!789%G+.)3*$$,@%
$3*$,$/%*($%,$@).*@%03*+%@C,$"/@($$*@:%-(02(%-$,$%."*$,%"##,$#"*$/%ND%3"O+3".%@*"AH%
#JGFHGJ@A>BE
5..%+B% *($%@*"O@O2@% B,+I% *($%@*)/$3*%@),G$D%",$% 2".2)."*$/% B,+I% *($%3)IN$,% +B% @*)/$3*@%-(+% @$.$2*$/% "%
@C$20l2%"3@-$,%*+%" %i)$@O+3%/0G0/$/% ND% *($%*+*".%3)IN$,%+B% @*)/$3*@ %-(+% "3@-$,$/%*($%i)$@O+3H% % R+,%
@*"O@O2@%*("*%03G+.G$%/"*"%B,+I%*-+%i)$@O+3@:%-$%/0G0/$/%ND%*($%3)IN$,%+B%@*)/$3*@%-(+%"3@-$,$/%N+*(%
i)$@O+3@H

(<L@M>>N"0?AF<")H?P<O
'($%@$2+3/%(".B% +B% *($%@*)/D%2+3@0@*$/%+B%"%C,02$%"3".D@0@%+B% *($%*$M*N++1%B+,I"*@%/0@2)@@$/%03%*($%,$C+,*H%%
?$%@$.$2*$/%+),%@"IC.$%ND% l,@*%0/$3OBD03#%*$3% 2+II+3% 2+..$#$%@)NW$2*@%-0*(%"*%.$"@*%+3$%+C$3% *$M*N++1%
+CO+3% "G"0."N.$H% %?$%*($3%2+..$2*$/%*($%C,02$%03B+,I"O+3% B+,%*($%+C$3%*$M*N++1@%w2+.+,%C,03*:% NU-%C,03*:%
C,03*"N.$%!TR% `0B% "CC.02"N.$a:% "3/%3)IN$,%+B%C"#$@%`*+%2".2)."*$%C,03O3#%2+@*@axH%'($3:% B+,%$"2(%+B% *($%*$3%
2+),@$@:% -$% 2(+@$% *$3% C+C).",% *,"/0O+3".% *$M*N++1@:% "%*+*".% +B% &__% N++1@H% % ?$% 0/$3Ol$/% *($%*$M*@% ND%
@$",2(03#% B+,%*($%@)NW$2*% +3% 5I"k+3H2+I% "3/% *"103#% *($%l,@*% *$3%,$@).*@%*("*%"CC$",$/% -($3% @+,*$/% ND%
XN$@*@$..03#HX[& % %5c$,%2+3@0/$,03#%@$G$,".%I$*(+/+.+#0$@:%-$%@$.$2*$/%+3$%*("*%-+)./%B+2)@%+3%N$@*E@$..03#%
*$M*N++1@:%N$2")@$%0*%-+)./%N$@*%,$C,$@$3*%*($%$MC$,0$32$%+B%*($%"G$,"#$%@*)/$3*H%%?(0.$%-$%2"33+*%2."0I%
*("*%5I"k+3H2+I%0@%*($%")*(+,0*D%+3%-(02(%*$M*N++1@ %",$%N$@*E@$..03#:%*($%@0k$%"3/%@2+C$%+B%0*@%@".$@%I"1$%0*%
"%@*,+3#%$3+)#(%03/02"*+,H

21 The search was performed at http://www.amazon.com on July 30-31, 2010.

!"#$%&g%%
5J@J"#>GG<F@<C
60@*%C,02$[[%`@+),2$@J%"I"k+3H2+I:%N",3$@"3/3+N.$H2+Ia
8$3*".%C,02$:%032.)/03#%@(0CC03#%`@+),2$@J%2($##H2+I:%N++1,$3*$,H2+I:%$2"IC)@H2+Ia
PE*$M*N++1%C,02$%`@+),2$@J%2+),@$@I",*H2+I:%N",3$@"3/3+N.$H2+I:%*$M*N++1@H2+Ia
PE,$"/$,%C,02$%`@+),2$@J%"I"k+3H2+I:%$3*+),"#$$/#$H2+Ia

(?JCA@A>BJG"(<L@M>>N"0?AF<E
B'4$5""6 :'; Z#'( =',$23 >%[""6 >%='2('&
!,0320C.$@%+B%P2+3+I02@ p% [_eH&[ p% &f\Hfh p% ^]H\[ p% &_&Hfh p% &&eH[f
R03"320".%522+)3O3# p% [_eH]g p% &f\H^h p% ^gHg& p% &_&H]_ p% &[_Hf&
F)@03$@@%4+II)302"O+3 p% &feH[_ p% &&^H&f p% fhHfe p% ^&Hg& p% h]H_g
!,0320C.$@%+B%;",1$O3# p% &f_H_f p% &&[Hf\ p% e[H^& p% ^fHhf p% h&H__
73B+,I"O+3%<D@*$I@ p% &ffHf^ p% &&eHe^ p% e^H]] p% ^^Hfg p% &_hH_g
603$",%5.#$N," p% &fhH_[ p% &&hH[^ p% fgH]& p% \^Hh\ p% &_[Hg_
<*"O@O2@ p% &f&H]^ p% &&]Hf[ p% e[H[] p% ^\Hg& p% &&\H^]
4".2).)@ p% [_hH\f p% &f^H_h p% ^\Hh[ p% &&_H_g p% &&hH][
4+..$#$%5.#$N," p% &e[H\^ p% &[&Hgf p% e]Hg\ p% g[H^g p% &__Hf\
!(D@02@ p% &hgH&^ p% &\gHe] p% ^^H\^ p% h&H\f p% &_gHe_
8D'&2-' F. GOIEML F. GHGEPG F. POELP F. LHEIH F. GJOEI\
C2D+,-#."].,';./&+*' KIEJJN PGEHHN IKEMJN HLEP\N

$=<B"(<L@M>>N"0?AF<E
B'4$5""6 !"3"&.A&+,$ [^_.A&+,$ R+-+$23`A&+,$ R+-+$23.?,3<
!,0320C.$@%+B%P2+3+I02@ p% ^hHhf p% \hHhf p% ][Hhh p% _H__
R03"320".%522+)3O3# p% fhHhf p% [hHhf p% [gHh] p% _H__
F)@03$@@%4+II)302"O+3 p% fhHhf p% [hHhf p% [gHfg p% _H__
!,0320C.$@%+B%;",1$O3# p% fhHhf p% [hHhf p% [^Hhe p% _H__
73B+,I"O+3%<D@*$I@ p% fhHhf p% [hHhf p% [^Hg^ p% _H__
603$",%5.#$N," p% ]\Hgf p% eH\e p% _H__
<*"O@O2@ p% ]fH\& p% fHe\ p% _H__
4".2).)@ p% f&He_ p% \H[& p% _H__
4+..$#$%5.#$N," p% [gHh^ p% fH\^ p% _H__
!(D@02@ p% ]eH\] p% fHfe p% _H__
8D'&2-' F. PHE\I F. HIEOJ F. GOEHO F. JEJJ

#JGFHGJ@A>BE
:';.A&+*'7.;$"3%+B%.0@*%C,02$@H%.4"IC)@%N++1@*+,$@%*DC02"..D%@$..%3$-%N++1@%"*%.0@*%C,02$H
Z#'(.A&+*'7.^fm%+B%*($%I$"3%+B%.0@*%C,02$@H%%4"IC)@%N++1@*+,$@%*DC02"..D%@$..%)@$/%N++1@%"*%^fm%+B%.0@*%C,02$H
=',$23.A&+*'7%;$"3%+B%"..%,$3*".%C,02$@H
>%5""6.A&+*'7.;$"3%+B% e^m%+B%"..%X,$3*".X%$EN++1%C,02$@%C.)@%I$"3%+B%]]m%+B%"..%XC$,I"3$3*X%$EN++1%C,02$@%
`0B%"G"0."N.$aH%%PEN++1@%",$%"G"0."N.$%03%*-+%B+,I@J%@)N@2,0CO+3@:%*($%$i)0G".$3*%+B%X,$3*".@:X%"3/%C$,I"3$3*%

22 The list price is typically what campus bookstores charge for "new" textbooks. We used 75% of the list price as the "used"
price, which is the industry's standard markdown. See GAO 2005, page 17

!"#$%&h%%
.02$3@$@H%%?$%-$0#(*$/%*($%I$"3%N"@$/%+3%+),%@),G$D%l3/03#%*("*%@*)/$3*@%-+)./%,$3*%e^m%+B%*($0,%N++1@%
+3%"G$,"#$H
>%&'2('&.A&+*'7% ;$"3%+B% "..% $E,$"/$,% *$M*N++1%C,02$@ %C.)@%p&\Hf_:%*($%C,+E,"*$/% 2+@*% +B% "3% $E,$"/$,H% %?$%
/$20/$/%*+%032.)/$%*($%C,+E,"*$/%2+@*%+B%"3%$E,$"/$,:%@032$%C),2("@03#%"%/$G02$%0@ %,$i)0@0*$%+B%C),2("@03#%"3%
$E,$"/$,%N++1H%%'($%"G$,"#$%2+@*%+B%*($%*-+%$E,$"/$,@%B+,%-(02(%-$%2+..$2*$/%*$M*N++1%C,02$%/"*":%5I"k+3j@%
S03/.$%"3/%$3'+),"#$j@%$T9$:%-"@%p\e\:%"3/%-$%C,+E,"*$/%"@@)I03#%"%@*)/$3*%-+)./%)@$%*($%$E,$"/$,%B+,%g%
@$I$@*$,@%"*%\%2."@@$@%$"2(H
A&+,0,-. A&+*'7. ;$"3% +B% C"#$% 3)IN$,@% OI$@% &_m% OI$@% h% 2$3*@% C$,% C"#$% C.)@%2+@*% +B% C,03*"N.$% l.$% `0B%
"CC.02"N.$aH% % ?$%"@@)I$/% *("*% @*)/$3*@%-+)./%C,03*%&_m%+B% *($%*$M*%+3%"G$,"#$:% "3/%*("*%C,03O3#% -+)./%
2+@*%h%2$3*@%C$,%C"#$%+3%"G$,"#$H% %L".B% +B%*($%+C$3%*$M*N++1@%-$%@*)/0$/%"..+-$/%@*)/$3*%*+%/+-3.+"/%"%
C,03*"N.$%!TR%"*%3+%2+@*:%"3/%*($%+*($,%(".B%2(",#$/%p[\HhfH

)@HC<B@")=<BCABD"&E@AIJ@<E
?$%)@$/%/"*"%B,+I% "%B"..%[__h%@),G$D[] % "3/%l3/03#@%B,+I%*($%@*)/$3*%@),G$D%2+3/)2*$/%B+,%*(0@%@*)/D% *+%
C,$/02*%*($%C,+C+,O+3% +B%@*)/$3*@%-(+% -+)./%*"1$%"/G"3*"#$%+B% $"2(%+CO+3%`,$3*".@:%$EN++1@:%$E,$"/$,@%
"3/%$"2(%+C$3%*$M*N++1%B+,I"*a%0B%#0G$3%*($%2(+02$H%%R,+I%*($%C,+C+,O+3@%"3/%"G$,"#$%N++1%C,02$%/"*":%-$%
2".2)."*$/%*($%"G$,"#$%@C$3/03#% C$,%@*)/$3*%ND%I).OC.D03#%*($%C,+C+,O+3%B+,%$"2(%+CO+3%ND%*($%"G$,"#$%
C,02$%B+,%*("*%+CO+3H%%

0?>=>?@A>B">U")@HC<B@E"2HOABD"&JFK"$=@A>B
?/0",.[")-W$ ?&+-+,23 =',$23# >%[""6# >%='2('&# !"95+,'( ?/0",.[")-W$ ?/',
d$- ]hHgm &]H]m ]&H^m ]gH[m &_H&m !,03*:%4+.+, hH]m
>@$/ \gH&m &eH&m ]gH]m \eH&m &[H[m !,03*:%FU? f_H^m
8$3*". &Hgm e^H&m &H\m &H^m f_H]m T0#0*".Y!,03* [_Hhm
PEF++1 _Hhm _H]m [&H_m _Hhm [&H_m T0#0*".%=3.D &hH&m
PE,$"/$, 3Y" 3Y" 3Y" \H_m \H_m
d+*(03# hHfm ]H[m ^Hem hH&m [H\m

$P<?JGG")@HC<B@")=<BCABD"4>?"&JFK"$=@A>B
B'4$5""6 !)&&',$ =',$23# >%[""6# >%='2('&# !"95+,'( ?/',
!,0320C.$@%+B%P2+3+I02@ p% &fgHf& p% &_&H&f p% &\eHhe p% &f]H[^ p% &_[Hf& p% \^H_h
R03"320".%522+)3O3# p% &fgHg& p% &_\Hgg p% &\^H&\ p% &f\H&[ p% &_fH]h p% ][H]g
F)@03$@@%4+II)302"O+3 p% &[_H&f p% ^hH]_ p% &&_H]\ p% &&^H_\ p% ^gHg] p% ][H]&
!,0320C.$@%+B%;",1$O3# p% &&fHfg p% ^hHh\ p% &_^Hf\ p% &&[Hg[ p% ^hHhh p% ][H&g
73B+,I"O+3%<D@*$I@ p% &&hHge p% g\H\f p% &&&H[g p% &&hH_] p% g\H\& p% ][H&e
603$",%5.#$N," p% &[[H_e p% ^hH_h p% &_^H_[ p% &[_H_\ p% ^\H[f p% &hH_[
<*"O@O2@ p% &&eHfe p% ^hHh] p% &_gH_h p% &&eHhg p% g_Hee p% &hH&]
4".2).)@ p% &e&H&\ p% &_]H_& p% &f_H^g p% &ffHhe p% &_fH^e p% [^H_\
4+..$#$%5.#$N," p% &[fH_g p% g]H^h p% &&eHf_ p% &[[H][ p% g\H^& p% &fHg]
!(D@02@ p% &f[H\^ p% &_&Hh& p% &\_H_h p% &\^H__ p% &__He& p% &hHe]
8D'&2-' F. GHIEJK F. \JEHP F. GKMEIO F. GHHEGI F. L\EOG F. KOEPL
C2D+,-#."].*)&&',$.#/',(+,- HHEJLN OEOMN GEH\N HHEIPN O\EIJN
8D'&2-'.29"),$.#/',$./'&.<'2& FPJKEHG FLHJEHP FLLOEIH FI\OE\\ FGLMEML

23 Student PIRGs, 2009

!"#$%[_%%
#JGFHGJ@A>BE"U>?")@HC<B@"0?>=>?@A>BE
=',$23#7%=),%@),G$D% "@1$/%@*)/$3*@%*+%,"*$%(+-%I"3D% N++1@%*($D% -+)./%,$3*%0B%*($D% ("/%*($%+CO+3H% %]\m%
@"0/%X"..:X% ]_m%@"0/%XI+@*:X% &em%@"0/% X(".B:X% &\m% @"0/%X" %B$-X% "3/%^m%@"0/% 3+3$H% % '+%$@OI"*$%(+-% I"3D%
N++1@%*($%"G$,"#$%@*)/$3*%-+)./%,$3*:%-$%"@@)I$/%X"..X%I$"3*%&__m:%XI+@*X%^fm:%X(".BX%f_m:%X"%B$-X%[fm%
"3/% X3+3$X% _m:% "3/% I).OC.0$/% $"2(% ND% *($%2+,,$@C+3/03#% C$,2$3*"#$%+B% @),G$D% ,$@C+3/$3*@% *+% #$*%*($%
,$@).*%+B%e^mH%%'+%2".2)."*$%*($%@*)/$3*%C,+C+,O+3@:%-$%@$*%*($%X,$3*".X%2"*$#+,D%"*%e^m:%"3/%/0@*,0N)*$/%*($%
,$I"0303#%]]m%+B%@*)/$3*@%"I+3#%*($%+*($,%2"*$#+,0$@%C,+C+,O+3"..D%*+%*($0,%+,0#03".%G".)$@H
>%5""6#7. [&m% +B% *($%@*)/$3*@%@),G$D$/% 2(+@$%$E*$M*N++1@%"@%*($0,% C,$B$,,$/% *$M*N++1% B+,I"*H% % R+,% *($%
C),C+@$@%+B% *(0@% @*)/D:% -$% "@@)I$/% *("*% @*)/$3*@j% C),2("@03#% ("N0*@ %-+)./% 2+,,$@C+3/% *+% *($0,% B+,I"*%
C,$B$,$32$@:% "3/% *($,$B+,$% [&m% +B% @*)/$3*@% -+)./% C),2("@$% $E*$M*N++1@H% % '+% 2".2)."*$% *($% @*)/$3*%
C,+C+,O+3@:%-$% @$*%*($%X$EN++1X% 2"*$#+,D% "*% [&m:% "3/% /0@*,0N)*$/% *($% ,$I"0303#% ^hm% "I+3#% *($% +*($,%
2"*$#+,0$@%C,+C+,O+3"..D%*+%*($0,%+,0#03".%G".)$@H%
>%&'2('&#7% \m% +B% *($%@*)/$3*@%@),G$D$/% 2(+@$%$E*$M*N++1@%"@ %*($0,% C,$B$,,$/% *$M*N++1% B+,I"*H% % R+,% *($%
C),C+@$@%+B% *(0@% @*)/D:% -$% "@@)I$/% *("*% @*)/$3*@j% C),2("@03#% ("N0*@ %-+)./% 2+,,$@C+3/% *+% *($0,% B+,I"*%
C,$B$,$32$@:% "3/% *($,$B+,$% \m% +B% @*)/$3*@% -+)./% C),2("@$% $E*$M*N++1@H% '+% 2".2)."*$% *($% @*)/$3*%
C,+C+,O+3@:%-$%@$*% *($% X$E,$"/$,X% 2"*$#+,D% *+% \m:% "3/%/0@*,0N)*$/%*($%,$I"0303#% hem% "I+3#% *($% +*($,%
2"*$#+,0$@%C,+C+,O+3"..D%*+%*($0,%+,0#03".%G".)$@H%
!"95+,'(7.?$%2+IN03$/%*($%@"G03#@%B,+I%,$3*".@:%$EN++1@%"3/%$E,$"/$,@%*+%$@OI"*$%(+-%I)2(%@*)/$3*@%
2+)./% @"G$% 0B% *($D% ("/% *($% 2(+02$% +B% "..% *(,$$H% % '($% l#),$% B+,% $EN++1@% ".,$"/D% *"1$@% 03*+% "22+)3*% *($%
C$,2$3*"#$%+B%@*)/$3*@ %-(+%-+)./%,$3*:%"3/%$E,$"/$,@%",$%3+*%"G"0."N.$%B+,%,$3*:%@+%-$%*++1%*($%C,+C+,O+3@%
B+,% *(+@$%*-+% +CO+3@% "@E0@H% % '($3% -$% *++1% *($% ,$I"0303#% ^fm:% @$*% *($%,$3*".% 2"*$#+,D% "*% e^m% +B% *("*%
"I+)3*:% "3/% *($3%/0@*,0N)*$/%*($%,$I"03/$,% "I+3#% *($% +*($,% 2"*$#+,0$@%C,+C+,O+3"..D% *+% *($0,% +,0#03".%
G".)$@H
?/',. $'4$5""6#7% ?$% )@$/%*(,$$%C0$2$@% +B% /"*"% *+% 2".2)."*$% *($@$%C,+C+,O+3@%`'"N.$%]aJ% e_m% +B% @*)/$3*%
-+)./%C),2("@$%"%.+-%2+@*%C,03*%2+CD% ,"*($,%*("3%)@$%" %B,$$%/0#0*".%+3$Q% ^&m%+B% *($%@*)/$3*@%-(+%C,$B$,%
C,03*%-+)./% C),2("@$%"%N."21% "3/% -(0*$%2+CD:%"3/% [hm% " %B)..%2+.+,% 2+CDQ%"3/%+B% *($% @*)/$3*@%-(+%C,$B$,%
/0#0*".%*$M*N++1@:%^&m%-+)./%C,$B$,%*+%("G$%*($%+CO+3% *+%C,03*:%"3/%]]m%-+)./%C"D%$M*,"%B+,%0*H% %R0,@*:%-$%
*++1% *($%e_m%+B% @*)/$3*@%-(+%-+)./% C),2("@$%"%C,03*%2+CD%"3/% @C.0*%*($I% N$*-$$3% 2+.+,%"3/% N."21%"3/%
-(0*$J% &gHem%+B% "..% @*)/$3*@%C,$B$,% 2+.+,:%\&Hem% FU?H% % % <032$%+3.D%f_m%+B% *($%@*)/$3*@%-+)./%("G$%*($%
+CO+3% *+% C),2("@$% "%2+.+,% N++1% `+3.D% (".B% +B% *($% +C$3% *$M*N++1@ %("/% N+*(% +CO+3@a:% -$% 2)*% *($% 2+.+,%
C$,2$3*"#$%03%(".B%"3/%@$*%*($%X!,03*:%4+.+,X% 2"*$#+,D%*+%hH]m%"3/%X!,03*:%FU?X% *+%f_H^mH% %'($3:%-$%*++1%
*($%\_m%+B% @*)/$3*@%-(+% -+)./% )@$%"%B,$$%/0#0*".%2+CD%"3/%@C.0*%*($I%N$*-$$3%C,03O3#% "3/%3+*%C,03O3#H%%
L".B% +B% *($%+C$3% *$M*N++1@%,$i)0,$%@*)/$3*@%*+% C"D% $M*,"%B+,% *($% +CO+3% *+% C,03*:% @+% -$%@C.0*%(".B% +B% *($%
@*)/$3*@%03*+%]]m%B+,%C,03O3#%`fH]m%+G$,"..a% "3/%e^m%B+,%/0#0*".%+3.D%`&\H^m%+G$,"..aH% %R+,%*($%+*($,%(".B%+B%
*($%+C$3%*$M*N++1@%*("*%"..+-% B,$$%C,03O3#:%-$%@C.0*%*($%@$2+3/%(".B%+B% *($%@*)/$3*@%03*+%^&m%B+,%C,03O3#%
`&fHem%+G$,"..a%"3/%[hm%B+,%/0#0*".%+3.D%`\H\m%+G$,"..aH%%5//03#%*($%*-+%(".G$@%*+#$*($,:%-$%@$*%*($%XT0#0*".Y
!,03*X%2"*$#+,D%*+%[_Hhm%"3/%*($%XT0#0*".%=3.DX%2"*$#+,D%*+%&hH&mH

!"#$%[&%%

Das könnte Ihnen auch gefallen