Speaker 2
Right. A quick detour. Do you think the price your book sells for is that is that
Speaker 1
equilibrium. That's a good question obviously so I'm selling it for $12 for the paperback on Amazon 999 for the ebook. In terms of whether this is actually the profit maximizing price. It's just really hard to know. This is obviously a case of monopoly here so, you know, like I can, and also nicely illustrates the fact that just because you have an opt, we don't something doesn't mean you're going to make a lot of money off it. That depends on demand. Yeah,
Speaker 2
it also does how you measure it. Right. It's like, you're the only one who has the right to your writing. It's not like you're the only one writing about like about political economy. Yes. Right. There are other people writing about. Right.
Speaker 1
So basically there's a lot of people who buy this book that wouldn't buy even a similar book by another person. On the other hand, of course, there's a ton of people who would buy this book if it was written by someone much more famous that won't buy it for me. In terms of whether I'm making a pricing mistake. It's one where I think I'm close enough to the profit maximizing point that I don't think it's that worth going and fiddling with it. It would be really hard to go and do an experiment that would be at all meaningful. I can't go and randomly change the price at a given point in time. If I change the price over time then there's this confound of, well, you're raising the price a couple of weeks after the release. So maybe sales are falling just because you've already tapped into the main customers. My long run plan is once the whole series is out or if the inflation, you know, if the inflation continues, then I won't wait that long. But basically, if inflation gets back down to a normal level, I'll probably sell all eight books in the series for this price initially. And then once I think I've tapped that out, I'll raise the price a bit and then have the whole series available for it as a package for 90 bucks or something like that. So when they small discount if you buy all eight.