At Pocket Gamer Connects Helsinki 2016, Cvetan Rusimov, COO of Imperia Online, gave a talk on "hacking" player's minds and using irrational thinking to sell IAPs.
He started by talking about cognitive illusions and the use of decoys, which trick people into thinking they're getting a better deal on a purchase and encourage them to pay more.
Don't get greedy
To put this in practice, Rusimov offered an IAP worth double the highest-value IAP for the same price, causing a 355% revenue increase.
The studio "got greedy" however, and tried the same with an even more expensive IAP, which led to a smaller revenue return due to numerous issues attempting to sell such an expensive IAP.
You can see all our videos from Pocket Gamer Connects Helsinki 2016 in this YouTube playlist.
Pocket Gamer Connects returns to London on January 16th and 17th. You can find details about the event and book your tickets here.