An interesting case study in e-book price elasticity (also interesting that there’s no mention of the Apple iBook store price)
Russ Grandinetti, the vice president of Kindle content for Amazon, suggested that the publishers should lower their e-book prices in response to consumer complaints.
“Setting a price for a Kindle book that is higher than its print counterpart makes no sense,” Mr. Grandinetti said in a statement, although it was not clear who was the chicken and who the egg in this instance. “It’s bad for readers and authors, and is illogical given the cost savings of digital. We’ve seen publishers do this in a few cases, and we’ve been urging them to stop.”
But many readers seemed willing to pay nearly $20 for an e-book. On Monday evening, “Fall of Giants” remained at No. 7 on the Kindle best-seller list, which is updated hourly.