First off, if you’re going to read this post, you have to subscribe to the economic belief that an appropriate price for a transaction is any price where both parties leave happy. If you instead believe that the appropriate price is cost of production plus a mixed 10-20% margin, you can leave now. This post is also somewhat constrained by my personal reading practices and habits.

When I buy a book, I’m purchasing it for the information contained on its pages, not the paper the pages are made of. Specifically, in the case of a novel, I’m buying the experience of reading the story. Therefore, I’m indifferent to the medium by which the experience is delivered, provided I enjoy it similarly.

I think more people believe this than realize it. Consider you’re offered two books, one that you’re interested in reading and one that you aren’t. The prices are the same. Clearly, you aren’t going to make your purchasing decision based on how much paper you’re getting for your money.

Physical books actually have a negative experience value (for me). I have to store the books. I have to move them, carry them, care for them, try not to lose them. ebooks do not share these shortcomings. Books do have their advantages, such as resale value, but in practice I almost never sell or lend books. In my situation, there are no benefits to books printed on paper.

Basically, if a paperback costs $6 and the ebook costs $7, I look at it as paying $6 for the story and $1 for the convenience of never needing to deal with the reality of a physical book. There is a limit here, of course. That convenience factor is probably not worth much more than about $2, and I very rarely buy any story for more than about $10 regardless of medium.