The game is a physical disk that I bought from a store.
No. Legally the game is the bits encoded on the disc, and while you are licensed a representation of them on that disc, you do not own the bits, nor the right to redistribute them.
However, like a book, you can redistribute the representation.
However you find many games, even on physical discs in the store, come with a single use code. Sure, you can sell the disc, but it's useless without the code, and if you've redeemed it you have to sell your account in order to actually transfer the game.
Go ahead and find a way to buy Bioshock Infinite, play it, and then sell it. You can't, even though you may have chosen to purchase a physical disc. All games are tending toward this model, PC, console, etc.
In fact this should be trickling down to the next generation of handheld game consoles soon.
Bottom line: if the game isn't worth the price, don't buy it.
Seriously. Don't buy the console if reselling and sharing your games is primary to your gaming experience. Don't buy the game if reselling and sharing is crucial to your entertainment lifestyle.
You'll find, however, that those who share your extreme game style are very few in number.
Most people, probably 80-90% of gamers, enjoy the used and sharing market, but will not stop gaming if that market goes away.
Which means these consoles aren't going to flop, and that publisher are going to latch onto them, and that rental and resale shops and services are going to change or die.