It’s no secret that I’m a huge fan of both Akerlof and Romer, not just the paper they co-wrote on looting in the financial system but also their work individually. Turns out one of Akerlof’s most famous papers is directly relevant to the ebook market.
For starters, a few basic premises. If you disagree with any one of these you can feel free to ignore the entire argument. I can easily pick apart any one of these statements myself, so I’d understand it very well if you disagreed with them.