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That's a rather interesting idea.... But wouldn't people just open it and scroll through to get their money back?
Yet another technological solution to a social problem?
don't think i'll work out...
They should do this for college textbooks. I might have covered more material...
The only way this will work out is of the books are really bad but then it will only work once and then it won't work!! If it's a good book you better be ready to lose a lot of money because if I get a book I'll read it unless it sucks. In which case, as I said, you only get me once!
I would, but regardless of this proposed system I doubt we'll be waiting long before it's a tactic/feature in many eBooks. Under the guise of optimising content either for producer or consumer, this would be the logical evolution of digital publishing. It already applies to websites with analytics, why not ebooks/TV/film/media at large?

It would also be an incentive/subsidy for authors and publishers to adjust prices (especially as an eBook is judged of same-ish value as a 'real' book in sticker price), and to me it certainly beats inline ads breaking up the reading flow. 
What constitutes a read? If I read the introduction, does that count? the first chapter? Half? 

I agree with +Amy Johnson, though, this system is too easy to game to always get your money back. The only way around it would be to put a 'time spent in book' metric in place but even then, you'll run into problems. 
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