For the longest time, ebooks and physical books were priced about the same by the publishers - even though the revenue structure was different (wholesale vs agency). What they forgot was, because of the reasons above, these products are not equivalent. You can resell, lend, etc a physical book whereas you can&#x27;t an ebook. The consumer gets that an ebook is intrinsically less valuable (well most consumers; the convenience of not using up physical space or taking up weight with ebooks is a value add for many, but that may depend on price too).