When I first got into self-publishing, I didn't want to price my eBooks very high. I was a new author. My books hadn't been reviewed yet. Buying them would be a leap of faith. I started out with my book priced at .99. A little later I raised it to $1.99 so that it qualified for some promotional deal Amazon was doing. I thought it would stay there, but last night, I did some thinking (and some math) and upped both my books to $2.99
I now have 8 reviews on Amazon for each of my books (and more on Goodreads), a couple of blog reviews, and everything has been more positive than I had dared to hope. While my book is still unknown to most, it isn't a complete risk any more. Buyers can read the reviews to help them make an educated choice.
And while KDP (kindle direct publishing) does have a 70% royalty option, your book has to be priced at $2.99 to $9.99. Under $2.99 (or above $9.99, I guess, though that seems weird to me) and the royalty rate is 30%.
At 30% my profits per sale were minimal. 70% was alluring.
I still hesitated though, and I'm still agonizing about whether I'll get fewer overall sales because of this increase.
I might update you in a bit to let you know if I've made any sales at the new price and if I feel sales have gone up, down, or stayed the same.