My original rationale had been that the price I was asking was about the same–or in some cases cheaper–than publisher-distributed books. You’ll have read the book and therefore had a chance to decide if it is of comparable quality, and if you’ve derived comparable enjoyment enjoyment from it–and you’ll be able to compensate me, as the creator and rights holder, accordingly.
But, after looking around, I feel as though the real comparator here is actually self-published books. And generally speaking, they’re priced a little more cheaply. Given that, I’ve lowered the price of the book to be more in line with those. The $2.99 e-book pricing is about in the middle range of what they’re asking (i.e. other self-pubbed regencies on lulu seem to be between $5.99 and $1.99, whereas $8 for said e-book would have been at the very high end). Given that you get a chance to read it before you decide, I think it’s fair to place the “pay if you like it” price in about the middle of the e-book pricing, as most other e-books carry some risk (you have to buy it and then if you end up disliking the book, you’re still stuck with it and will have paid). A middling price for lower risk seems reasonable to me.
I also feel as though setting the price too high would skew this experiment of mine. I know that I, personally, have points of price resistance: I often say “if it cost X, I would have bought it, but X+2 is more than I’m willing to pay.” I fear that my original “pay if you liked it” price of $8 ($6 of revenue for me) and ~$18 (also $6 of revenue for me) was a little high. So, I’ve reduced it to a level that I think will provoke less resistance: $2.99 for the e-book and $12.99 for the print book. There’s a bigger resulting revenue difference ($1.60 to me for the e-book and $2.50 revenue for the print book), which isn’t ideal, but I wanted to avoid random-looking end pricing.
As I’ve mentioned elsewhere, I’m really fond of this book–and I sincerely hope those who download it (or at least the Regency readers among you who download it) also end up enjoying it! I also hope that people will choose to go and buy the book if they do–and that they’ll like it enough to recommend the read and the purchase to fellow Regency readers. Of course, short of that, clicking the star rating or adding a couple of lines of positive feedback to the lulu entry would be absolutely fantastic as well!