This example, at least, does not depend on asymmetry of information. It depends on the willingness of the parties to invest extra labor.
The business model of the thrift store requires treating the books as commodities ("all hardcovers $2/ea", etc.), as they don't have the volume to invest time in research. The business model of the used book seller requires knowledge, amortizing the cost of researching each book over a global (or at least national) customer base.
Adam Smith would find this a wonderful example of division of labor.
The business model of the thrift store requires treating the books as commodities ("all hardcovers $2/ea", etc.), as they don't have the volume to invest time in research. The business model of the used book seller requires knowledge, amortizing the cost of researching each book over a global (or at least national) customer base.
Adam Smith would find this a wonderful example of division of labor.