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That's probably not the only reason.
In the EU, paper books are considered "cultural goods" and have a reduced VAT, while ebooks are "digital products" and have a normal VAT. This can be a difference between 4% and 18% VAT, or 0% and 20%, or something similar.
And then there's the fact that ebooks are still considered a "niche" product for "geeks" by publishers and stores, and they'll usually price them as high as they can, independently of the price of the paper counterpart.
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