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A couple of reasons. First, hardcover books have historical prestige because they were the only way to get hold of a book until the 1930s, when inexpensive (and often paperback) paperbacks finally came onto the market. The paperback format became incredibly popular, but they were inevitably perceived as somehow inferior, with less-anticipated titles even debuting as paperback exclusives and some reviewers considering only hardcover releases.
Which brings us to the second reason: the built-in prestige allows booksellers to sell new hardcover releases (which are actually more expensive to produce) for a higher price and make a bunch of money by recovering the money they spent in the guide. up to publication. Then, some time later, they can market the cheaper paperback version again and do another murder.
Oh, another important reason: Hardcovers are great and easier to highlight on bookstore shelves.