Perceived Value.

Perceived value is getting a lot of play these days, especially when it refers to free books.

The simplest definition of perceived value:

From Business Dictionary–A customer’s opinionof a product’s valueto him or her. It may have little or nothing to do with the product’s market price, and depends on the product’s abilityto satisfy his or her needs or requirements.

Some writers, agents and publishers claim that a reader perceives zero value in a free book, thus giveaways, contests, and enrolling...