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I've never understood in these discussions why it seems to be a given that royalties for an e-book should be tied to hardcovers. It seems to me the royalties ought to be tied to the lowest medium at a point in time. So, during a hardcover window, royalties should match the hard-cover. When the mass or trade paper editions come out, then e-book royalties should drop to those levels. That alone would help drive e-book prices down to levels where some serious volume could be possible.
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