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Gabe Newell describes Steam's ongoing pricing experiments

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Gabe Newell's Valve exists simultaneously as one of the most revered game development shops and also the operator of Steam, a huge player in distributing PC games online. At the WTIA TechNW panel in Seattle, Newell recently spoke about how Valve uses instant feedback it receives from Steam to experiment with price elasticity and gain more insight into how pricing changes can get Steam users to open their wallets. After a few tests, Newell and his team felt they had a good handle on how price changes affected sales, but further testing showed this was far from the truth. To get the details on Newell's ongoing pricing experiments, check out the transcript of his comments over at Geekwire.