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I believe the biggest factor in prices has to be the amount of content. Say for example you have Super Mario 3D World and Undertale. Both are great games, but its clear that 3D World offers more content than Undertale, hence the bigger price tag.

However, as you said factors like replayability come in as well. In that case I still think that a game with more content but less replayability should cost more than a game with little content but a lot of replayability, simply due to the fact that there is more stuff in a game with more content. I can't imagine a story-driven game with perhaps not that much replayability being priced lower than Pong with more replayability but MUCH less content.



 

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