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I did a lengthy analysis of this issue for the Teleread and my conclusion was that for an ebook to be competitively priced for me, it needs to retail for 30% less than the cost of the print book. You've got to look at other sources the reader has to get the book. If I can get it easily for $6.99 in mass market or clearance hardback or at a second-hand store, why would I pay more than that for an ebook which I can't resell and can maybe only read on one of my multiple devices? You've also got to compete with Amazon sale prices, Fictionwise sale prices etc. The reader does not want to pay more if they know they can get it for less, and I understand that. I recently saw a book which retailed new for $11.99 in trade paperback, was available at a remainder wholesaler used book store near me for half that, and was for sale at Fictionwise for $21.99---almost FOUR TIMES THE COST of the cheapest paper version I could easily buy. What kind of crack do we think we are on to put up with that? I am all for fair compensation for the authors, but seriously, that is just insane. And the author's reply when I wrote him was 'wow, that *is* pretty shocking, unfortunately I have no say in these things.' NOT good enough for this reader (and buyer!) That author lost a customer over this. Somebody has to step up and bring some sensibility back into this!
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