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FairPay by Richard Reisman

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CHAPTER 20

Why It Works—Behavioral Economics, Psychology, and Game Theory

More than Meets the Eye

FairPay draws on elements of pay what you want (PWYW) pricing—that simple strategy has gotten some attention in the past few years, but most people only dimly understand it. A growing body of research and actual usage is showing that it has much more potential value than most businesses realize. People actually do pay even when they do not have to—often generously.

For those who think there can be no real money in PWYW, the success of Humble Bundle shows that to be a misconception. They started with limited time offers of bundles of indie games, and later expanded to e-books. Their model includes a combination of payouts to developers and to charities. ...

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