David Barnard of The Application Cubby and one of the minds behind Gas Cubby, Health Cubby and Trip Cubby, wants to shake up the app dev pricing model and the App Store’s marketing dynamics at the same time with his own version of the “pay what you think it’s worth” marketing tactic.

You may recall Radiohead shocked the music industry a little more than a year ago when it released In Rainbows, its new album, and told fans to pay whatever they think it’s worth. The move made a big splash in electronic and print media, rattled the teeth of music executives and made fans more than a little dizzy. Whether the tactic made Radiohead some serious cash is hard to say, but some market researchers believe the novel strategy paid off for the band.

That marketing experiment is along the same lines as what Barnard is aiming to do. He’s been among devs leading the discussion about the App Store’s market dynamics and pricing strategies.

With App Store shoppers seemingly hesitant to risk $5-plus on a new app, we’ve decided to do a pricing experiment. Buy any App Cubby app for $0.99 and if you think it’s worth more than $0.99, please donate to help us fund future development. We’ll report back on the average revenue per app during this experiment.

Gas Cubby Health Cubby regularly sells for $4.99 and Trip Cubby regularly sells for $9.99. AppCraver has given both high marks in reviews.

“I created App Cubby as a fan of the iPhone platform,” Barnard told AppCraver. “My goal was to create great apps that people would enjoy and build a business that could provide for me and my family. The challenges of selling in the App Store have continued to frustrate me and foil my best efforts. So, I’ve decided to try a little experiment.”

Barnard promises to let iPhone and iPod touch owners know whether there’s a pot of gold at the end of his own play on In Rainbows.

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