## Price Elasticity of Demand...

Palgrave Macmillan wants to charge me not $9.99 or$7.99 but rather $14.82 for a Kindle edition of: Juan Cole (2009), Engaging the Muslim World. Compare to$17.79 for a hardcover.

Considering that I would then spend 3 hours reading it if I got it, and that my work-time is cost-accounted out at at least $50 an hour, I would be making a$150 + $15 =$165 investment in reading the book.

Very curious that I find myself unwilling to do so--but I would already have done it (and I would right now be paging through it and not be writing this post) if it were $9.99 and so$160 in total cost.

Am I rational? It seems that Amazon has managed to establish \$9.99 as a default price point, and anything more than that brings very different parts of the brain than my normal surf-click-bing! into play...