Do you have any data / references to support this?

Not sure why he/she deleted their post, but for an excellent in-depth analysis of App Store pricing I thoroughly recommend Michael Jurewitz' 5 part blog post "Understanding App Store Pricing"

http://jury.me/blog/2013/3/31/understanding-app-store-pricin... http://jury.me/blog/2013/3/31/understanding-app-store-pricin... http://jury.me/blog/2013/3/31/understanding-app-store-pricin... http://jury.me/blog/2013/3/31/understanding-app-store-pricin... http://jury.me/blog/2013/4/1/understanding-app-store-pricing...

Theres a bit of Economics 101, and some very well explained real world data on app pricing. Essentially Michael's advice boils down to: try doubling your price. If you lose less than half your sales, you're now making more money than you were before.