Every month I try to buy a few books on Bookapy. It's mostly to support the authors because most of the books I already have downloaded from SOL before I bought them.
Today I browsed through what's new on Bookapy and couldn't keep from wondering how you authors decide to price your books. The differences are huge if you compare for example #words/price between the different books.
I did a few calculations and books that I thought were reasonably priced come down to around 0.04 to 0.045 cents per word. That made me throw those numbers on books that I thought were either cheap or expensive too get an unbiased mathematical comparison. I got some surprising results.
Compared to my 0.04-0.045 numbers some authors seem to set all or most of their prices on the high end or way above; others do the opposite and set their prices to the lower end or way below. Some authors seem to set the price of their books at the same amount regardless of the number of words. Some authors have one or two books totally out of the (calculated) price range of their other books, mostly up.
I do understand setting a price at x.99 or x.95, it's a well known psychologically determined boundary that seems a lot lower than the next full number although the difference is neglectable. It doesn't justify setting the same price for a 50,000 and a 100,000 word book.
So my first question is: How do you determine what price to set for your books? Do you use something like x cents per word, graduated scales, or just a wet finger in the air to see how the wind blows?
The second "hot" question is: Do you compare your writing value to other books/authors and take that into account when setting prices?