This post from the Freakonomics blog is worth a read for anyone returning to campus this fall. Professor Ian Ayres explores a new and little-discussed federal law mandating certain disclosures about textbooks in an attempt to provide transparency and hopefully greater efficiencies in this huge market. In broader terms, it is an article discussing some of the potential economic impacts of legal actions. Right up our alley, of course.
Based on the comments, it appears that many schools are not in compliance with the law, which has admittedly weak repercussions for lack of compliance. As is the case almost any time there is a law that harms profits and has no consequences for non-compliance, particularly one that is being widely ignored, it is fairly likely this trend will continue.
Come to think of it, maybe Professor Ayres' article is less a good example of legislation stimulating positive economic efficiencies and more an example of how cheaters can benefit from gaming a poor enforcement regime...
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