From Kevin Kelly’s blog:
Readers would purchase an e-book for a fixed amount, say $5. They would use an e-book reader to read the digital book. The e-book reader would contain software that would track their reading usage … If a reader is given credit for reading the book, then he/she would earn more than they paid for the book. For example, if they paid $5 for the ebook, they would get back $6, thus earning $1 for reading the book. Not only did the book not cost them anything, but they made money reading the book. If they read it.
The Publisher would pay the difference from the potentially greater sales revenue this arrangement would induce. Greater numbers of readers would purchase the book initially in the hope and expectation that they would finish the book and be reimbursed greater than the amount they paid. In their mind, entering into a purchase is an “easy buy” because they calculate “it will cost them nothing.” Or maybe even make them money.
Continue reading the rest of the story on Kevin Kelly’s blog