A Price That Minimizes Risk

Do pricing trends in music and books have any resonance for news and, in particular, investigative journalists?

When Amazon.com recently made a new album by Explosions in the Sky available for $2.99 for 24 hours, it caught my attention.

Until then, I hadn’t bought any of the band’s albums. I’d been mildly interested in EitS since it played an episode of Austin City Limits, but given my limited music-purchase budget, I hadn’t prioritized one of its albums over buying new releases by my favorite artists.

But $2.99 made it too easy. I clicked “buy.”

Later, I thought about the psychology of the buy. Why did $2.99 win me when $4.99 or $5.99 might not have? As I type, the price is back up to $7.99 for a download. Had I stumbled on that title today at that price, I would have passed.

But $2.99 hooked me. Why?