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I don't think it's possible for their to be any set criteria for game pricing and it makes sense across the whole industry, no matter how many different metrics you try and account for.

Do I think a game like Mario Party should cost the same full price as a 100 hour+ RPG? Even as a big fan of that series I would say no. I'm sure the budget for mario party is relatively small and it sells a huge amount of copies, yet the switch 2 edition of jamboree is $80. Low dev cost, high sales and high prices mean they are rolling in it.

But I don't think setting a price based on budget and dev time given to the game works either. AA titles would get hammered as their sales volume is already low and I don't think them dropping the launch price would necessarily result in enough extra sales to make up the lost money.

Publishers can set whatever price they want and as always the consumer can decide whether they want to pay it or not.