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Virtual Economies

Virtual Economies. Original topic by : Scott Woodward Chris Addy Adjusted by: Prof. Hector Munoz-Avila. Economies. Economy refers to the human activities related with the production, distribution, exchange, and consumption of goods and services

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Virtual Economies

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  1. Virtual Economies Original topic by: Scott Woodward Chris Addy Adjusted by: Prof. Hector Munoz-Avila

  2. Economies • Economy refers to the human activities related with the production, distribution, exchange, and consumption of goods and services • A virtual economy is an economy existing in a virtual persistent world, usually in the context of a game

  3. Virtual Economies • Consist of 5 parts • Persistence • Scarcity • Specialization • Trade • Property Rights

  4. Persistence • The gaming system keeps track of • State of the world (what does this mean?) • Resources • Possessions • The gaming system maintains these permanently

  5. Scarcity • Users must expend resources • Time • Real money • Virtual money and resources • To obtain goods, resources, or services in the virtual environment • Examples?

  6. Specialization • Availability to players must vary • Limit players ability to obtain resources based either upon skills, class, or other factors • This creates conflict in the environment for available resources (alternative) • Other forms of obtaining resources?

  7. Trade • Users must be able to transfer goods and services to and from other users • Virtual objects only have meaning in context of the game • Worthless if unable to trade goods between players and the environment

  8. Property Rights • The world must record which goods and services belong to which user’s avatar • The user may dispose of the goods or services according to whim at any time via destruction, exchange or use.

  9. Types of Games and Their Economies • RTS • TBS • RPG • FPS • Board Games (Monopoly etc) • MMO • inflation

  10. Meaningful Play • Integrated outcome • By interacting with the economy you obtain resources that will further your own goals further down the road

  11. Lusory Attitude • You are willing to spend significant amounts of time or even real money to get those neat items

  12. Virtual Economies in the News • Online vendors sell currency, services or items in many online games • World of Warcraft • Everquest I & II • Second Life • EBay bans the selling of virtual goods and services • Virtual Taxation

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