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Originally Posted by nabsltd
For digital items, this has been proven false many times. It's that whole "marginal cost" thing again, digital items are where it really shines, because the supply is infinite, so the only thing affecting demand is the price.
As for ebooks, have you looked at the Amazon "best seller" lists lately? The top 100 is now dominated by sub-$5 books, and that is all because they sell far more than twice as many copies as the $10 ebooks. Again, part of that is because of the price thresholds that everyone sets in their own mind, but $5 is a big one for a lot of people.
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As has been stated many times though, ebooks don't really follow other digital media. A lot of people only buy books when they are going to read them, $0.99 or $5.99 they are going to buy pretty much the same amount of books. Sure they may buy the $0.99 book instead of the $5.99 one but they aren't going to buy 6 of them.
A race to the bottom is never a race you want to win.