Virtual Economies Read ✓ 104

2 thoughts on “Virtual Economies

  1. says:

    This was conceptually a magnificent book You need only the most basic background in economics to be able to nicely read it The authors explain things as they go and they give references as they goWhile well done some obvious editing errors crept in One graph's axis was mislabled The great dragon in The Hobbit is named Smaug not Smaud Finally I can't exactly confirm it but I think the Purchasing Power Parity exchange rate example was incorre

  2. says:

    By looking at what happens inside virtual economies we can get a good sense of the social and psychological mecha

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Read ¿ PDF, DOC, TXT or eBook Î Vili Lehdonvirta

Hdonvirta and Castronova explain how the fundamentals of economics markets institutions and money can be used to create or analyze economies based on artificially scarce virtual goods They focus on virtual economies in digital games but also touch on serious digital currencies such as Bitcoin as well as virtual economies that emerge in social media around points likes and followers The theoretical emphasis is on elementary microeconomic theory with some discussion of behavioral economics macroeconomics sociology of consu.

Download Virtual Economies

Virtual Economies

How the basic concepts of economics including markets institutions and money can be used to create and analyze economies based on virtual goodsIn the twenty first century digital world virtual goods are sold for real money Digital game players happily pay for avatars power ups and other game items But behind every virtual sale there is a virtual economy simple or complex In this book Vili Lehdonvirta and Edward Castronova introduce the basic concepts of economics into the game developer's and game designer's toolkits Le.

Read ¿ PDF, DOC, TXT or eBook Î Vili Lehdonvirta

Mption and other social science theories relevant to economic behaviorTopics include the rational choice model of economic decision making information goods versus virtual goods supply demand and market euilibrium monopoly power setting prices and externalities The book will enable developers and designers to create and maintain successful virtual economies introduce social scientists and policy makers to the power of virtual economies and provide a useful guide to economic fundamentals for students in other disciplines..