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Moral Calculus Elucidated

Amazon, apparently no longer all that comfortable with the role that it has settled into during the course of its ongoing standoff with the publisher Hachette—unrepentant and unyielding monopoly monster—now wishes to explain itself: It's also important to understand that e-books are highly price-elastic. This means that when the price goes up, customers buy much less. We've quantified the price elasticity of e-books from repeated measurements across many titles. For every copy an e-book would sell at $14.99, it would sell 1.74 copies if priced at $9.99. So, for example, if customers would buy 100,000 copies of a particular e-book at $14.99, then customers would buy 174,000 [...]