References
Scholarly Sources:
Ernkvist, D. V. & Lehdonvirta, V. (2011). Knowlege Map of the Virtual Economy. Washington DC: The International Bank for Reconstruction and Development/The World Bank. PDF file
This book gives us a general idea of what Virtual Economy is and what kind of industries are in Virtual Economy. It includes different aspects of basic knowledge regarding our research topic.
Castronova, E. (2006) Virtual Worlds: A First- Hand Account of Market and Society on the Cyberian Frontier. In: K. Salen and E. Zimmerman (eds),The Game Design Reader: A Rules of Play Anthology, pp. 814–863. The MIT Press: Cambridge, MA.
A new society world called "Norrath" has experienced an economic miracle: around 12,000 people have taken residence within this world, making wage in USD$3.42/hour. Everything runs perfectly but it is actually a virtual world existing within a computer. The paper talks about how potentially virtual worlds are going to become an important part of online activity.
A new society world called "Norrath" has experienced an economic miracle: around 12,000 people have taken residence within this world, making wage in USD$3.42/hour. Everything runs perfectly but it is actually a virtual world existing within a computer. The paper talks about how potentially virtual worlds are going to become an important part of online activity.
Glushko, Bobby. Tales of the (Virtual) City: Governing Property Disputes in Virtual Worlds. Berkley Technology Law Journal, Vol. 22, No. 507, June 13, 2007. PDF file.
This article argues that with the development of virtual worlds, the governing in these worlds is not sufficient to handle relevant interests; it examines several virtual worlds and talks about how EULAs (End Users Licensing Agreements) inadequately regulates the virtual worlds.
Heeks, Richard. Current Analysis and Future Research Agenda on "Gold Farming": Real-World Production in Developing Countries for the Virtual Economies of Online Games. Manchester: Development Informatics Group, Institute for Development Policy and Management. 2008. PDF file.
This article discusses some research on gold farming in developing countries like China. With data and economic analysis, the paper shows how exchange rate and scale of economies impacts gold farming. Also, from the perspective of industrial sociology, the paper analyzes the gold farming value chain. The article aims to encourage and provide some entry information for further research on the gold farming phenomenon.
Other sources:
liquipedia. (2012). Data retrieved from: Battle.net World Championship.
Lejacq, Yannick. Diablo III Hacks Continue, Users Report Paypal Accounts Being Used for Money Laundering. International Business Times. 06 August, 2012. Web.
Choe, Sang-Hun. Seoul Warns of Latest North Korean Threat: An Army of Online Gaming Hackers. New York Times. 4 August, 2011. Web
Thompson, J.P. Two Economic Issues in Virtual Worlds. DisRupTions. http://disruptions.wordpress.com
Scott, Richard. The Business End of Playing Games. London: BBC News. 25 April 2007. Web.
Lejacq, Yannick. Diablo III Hacks Continue, Users Report Paypal Accounts Being Used for Money Laundering. International Business Times. 06 August, 2012. Web.
Choe, Sang-Hun. Seoul Warns of Latest North Korean Threat: An Army of Online Gaming Hackers. New York Times. 4 August, 2011. Web
Further Readings
By Michael Casey
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This article interestingly discusses the fact that people today are using virtual worlds to learn about real economics. A number of economists today believe that the actions of gamers offers a treasure of information to study and analyze, primarily because each one of their decisions leaves a trail, creating a vast database that economists can only dream of in the real world. In the end, it creates a giant laboratory within which to study human behavior, dramatically scaling up the kind of classroom-based experimental economics that were pioneered by 2002 Nobel Prize winner Vernon Smith.
"In the first quarter of this year, while Chinese demand for copper, aluminum and nickel helped the London Metals Exchange’s index of prices rise to a 4% gain, the minerals price index for EVE went in the opposite direction, dropping by 1.8% over the same period...."
The Unreal Estate Boom
By Julian Dibbell
This is an article about the recently growing amount of virtual properties. It introduces some specific cases of how virtual properties have been sold for real money. A very interesting case discussed id the virtual castle of Kenn Brown which recently sold for $2059. Every piece of furniture in this castle has a particular value, which is perhaps even higher than real furniture.
Read More.
By Julian Dibbell
This is an article about the recently growing amount of virtual properties. It introduces some specific cases of how virtual properties have been sold for real money. A very interesting case discussed id the virtual castle of Kenn Brown which recently sold for $2059. Every piece of furniture in this castle has a particular value, which is perhaps even higher than real furniture.
The author ends the article with a very thought-provoking paragraph:
"...Games attract us with their very lack of consequence, whereas economies confront us with the least trivial pursuit of all, the pursuit of happiness. And while not even Dugger himself can say precisely how much happiness he bought when he bought that imaginary house, one thing was certain from the moment Troy Stolle put it up for auction. The game was over, and something as real as life was suddenly in play."
Read More.Photo: Kenn BrownWith a suit of Invuln plate mail ($49) and a Daemon Slayer Katana ($55), you're ready for business in Ultima Online. Both can usually be found on eBay
Occupy Azeroth: World of Warcraft and the Gold Economy
by ThePrinceOfMillAve
A very brief and interesting discussion about in game wealth distribution.
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