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Virtual Economies

Virtual Economies. Scott Woodward Chris Addy. 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 Scott Woodward Chris Addy

  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 software keeps track of • State of the world • Resources • Possessions

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

  6. Specialization • Availability to players of the resources 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

  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 identity • 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 • Discernable outcome • In most games you need resources to accomplish goals • The resources come into your hands through the economy in the game • Integrated outcome • By interacting with the economy you obtain resources that will further your own goals further down the road

  11. Lusory Attitude • Virtual economies with regards to lusory attitude can vary greatly • In some games you spend resources readily to accomplish a goal such as building an army • In other cases you come to value the money in the same manner as real money due to the work required to obtain it

  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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