The recent surge in facial recognition technology hasn’t affected the price of video games in the least. Neither has the fact that we haven’t seen a new console release since 2005. So why are we still handing over $60 for a mint game? Well, for a couple reasons.

First, to cite Occum’s Razor, people are willing to pay that much for it. If someone wants to play L.A. Noir upon release, they can do that. If a developer’s marketing strategy is working, it’s going to bring in the coin. Factor in social circles where two to three people start the trend, and then ten close friends (in any direction) are hooked and ready to play.

Also, as Raffman has already eloquently stated, collector’s editions and special editions unfortunately sell. Now, we don’t want to come down on people for collecting things they like, but anybody with a high school diploma understands that the majority of collector’s editions are geared towards teenagers who spend their parents’ money. And, once again, it works. So the developers stick with it. Furthermore, I don’t blame them.

The allure of marketing on the both the teenage and adult psyche is more prevalent in today’s society than in any other generation. Kids are growing up understanding that smoking actually causes cancer and unprotected sex can lead to children with names like Mihkhala. And yes, that’s with two h’s.

So when a teenager runs gambit and pushes the parent to drop $100 on a game, a special map pack, and a poster, the developers would be remiss to lower the initial price.

On the flip side, the price isn’t increasing because of the trade-in industry. In a recent article on MCV, GAME CEO Ian Shepherd states that the trade-in numbers they entertain represent a healthy portion of their overall sales.

American GAME counterpart, GameStop, also thrives on the trade-in industry. GameStop claims that in 2009 their “Buy sell trade” philosophy, although indirectly, netted them another $1b in total sales.

A new face in the trade-in market, Amazon.com, is also enjoying early success with their model. Proving early professional skeptics wrong, Amazon.com is actively growing in a relatively underground market.

Helping the trade-in market, unfortunately, is the downturned economy. Any way a consumer may save some funds through frugality or efficiency will not only be looked for but also, at times, heavily sought after.

Regardless of the motive, even the casual gamer may enjoy a midnight launch and not hesitate to lay down $60 for a new video game. We may just trade in a game or two to help hedge the cost.