The Economics Of Online Gaming

Author : Andrew Wagner
Publisher : Business Expert Press
ISBN 13 : 1948580926
Total Pages : 147 pages
Book Rating : 4.22/5 ( download)

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Download or read book The Economics of Online Gaming written by Andrew Wagner and published by Business Expert Press. This book was released on 2020-02-14 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. This book is made from the connections that the author saw when he compared his experience inside a video game with what he learned through a formal study of economic theory. Set in the Massively Multiplayer Online Role-Playing Game (MMORPG) of Eternal Lands, it follows the true story of Mr. Mind, a gamer who builds a business inside the game world that he calls RICH. This business grows from a small start-up to an unregulated natural monopoly that abuses its market power by intentionally losing money to drive competitors out of business. RICH becomes so influential that it breaks the market process with a unique case of regulatory capture. Through this story, the book demonstrates how economic thinking is absorbed by experimenting inside an online video game. The Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. Each of these topics begins with the context of a story and continues with an explanation of the economic theory behind it, finishing with a relevant real-world connection. It supports economic theory in an emotional way that cannot be shared through math or charts or graphs. Appendix B provides a comprehensive outline of ideas for teaching and discussion in each chapter.

Author : Andrew Wagner
Publisher :
ISBN 13 : 9781948580915
Total Pages : 204 pages
Book Rating : 4.18/5 ( download)

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Download or read book The Economics of Online Gaming: A Player's Introduction to Economic Thinking written by Andrew Wagner and published by . This book was released on 2019-06 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. This book is made from the connections that the author saw when he compared his experience inside a video game with what he learned through a formal study of economic theory. Set in the Massively Multiplayer Online Role-Playing Game (MMORPG) of Eternal Lands, it follows the true story of Mr. Mind, a gamer who builds a business inside the game world that he calls RICH. This business grows from a small start-up to an unregulated natural monopoly that abuses its market power by intentionally losing money to drive competitors out of business. RICH becomes so influential that it breaks the market process with a unique case of regulatory capture. Through this story, the book demonstrates how economic thinking is absorbed by experimenting inside an online video game. The Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. Each of these topics begins with the context of a story and continues with an explanation of the economic theory behind it, finishing with a relevant real-world connection. It supports economic theory in an emotional way that cannot be shared through math or charts or graphs. Appendix B provides a comprehensive outline of ideas for teaching and discussion in each chapter.

Author : Edward Castronova
Publisher : University of Chicago Press
ISBN 13 : 0226096319
Total Pages : 344 pages
Book Rating : 4.15/5 ( download)

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Download or read book Synthetic Worlds written by Edward Castronova and published by University of Chicago Press. This book was released on 2008-09-15 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: From EverQuest to World of Warcraft, online games have evolved from the exclusive domain of computer geeks into an extraordinarily lucrative staple of the entertainment industry. People of all ages and from all walks of life now spend thousands of hours—and dollars—partaking in this popular new brand of escapism. But the line between fantasy and reality is starting to blur. Players have created virtual societies with governments and economies of their own whose currencies now trade against the dollar on eBay at rates higher than the yen. And the players who inhabit these synthetic worlds are starting to spend more time online than at their day jobs. In Synthetic Worlds, Edward Castronova offers the first comprehensive look at the online game industry, exploring its implications for business and culture alike. He starts with the players, giving us a revealing look into the everyday lives of the gamers—outlining what they do in their synthetic worlds and why. He then describes the economies inside these worlds to show how they might dramatically affect real world financial systems, from potential disruptions of markets to new business horizons. Ultimately, he explores the long-term social consequences of online games: If players can inhabit worlds that are more alluring and gratifying than reality, then how can the real world ever compete? Will a day ever come when we spend more time in these synthetic worlds than in our own? Or even more startling, will a day ever come when such questions no longer sound alarmist but instead seem obsolete? With more than ten million active players worldwide—and with Microsoft and Sony pouring hundreds of millions of dollars into video game development—online games have become too big to ignore. Synthetic Worlds spearheads our efforts to come to terms with this virtual reality and its concrete effects. “Illuminating. . . . Castronova’s analysis of the economics of fun is intriguing. Virtual-world economies are designed to make the resulting game interesting and enjoyable for their inhabitants. Many games follow a rags-to-riches storyline, for example. But how can all the players end up in the top 10%? Simple: the upwardly mobile human players need only be a subset of the world's population. An underclass of computer-controlled 'bot' citizens, meanwhile, stays poor forever. Mr. Castronova explains all this with clarity, wit, and a merciful lack of academic jargon.”—The Economist “Synthetic Worlds is a surprisingly profound book about the social, political, and economic issues arising from the emergence of vast multiplayer games on the Internet. What Castronova has realized is that these games, where players contribute considerable labor in exchange for things they value, are not merely like real economies, they are real economies, displaying inflation, fraud, Chinese sweatshops, and some surprising in-game innovations.”—Tim Harford, Chronicle of Higher Education

Author : Casey B. Hart
Publisher : Lexington Books
ISBN 13 : 1498543421
Total Pages : 182 pages
Book Rating : 4.22/5 ( download)

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Download or read book The Evolution and Social Impact of Video Game Economics written by Casey B. Hart and published by Lexington Books. This book was released on 2017-07-13 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, consumers of video games spend over $22.4 billion each year; using more complex and multi-layered strategies, game developers attempt to extend the profitability of their products from a simple one-time sale, to continuous engagement with the consumer. The Evolution and Social Impact of Video Game Economics examines paradigmatic changes in the economic structure of the video game industry from a media effects and game design perspective. This book explores how game developers have changed how they engage players in order to facilitate continuous financial transactions. Contributors look from the advent of microtransactions and downloadable content (DLCs) to the impact of planned obsolescence, impulse buying, and emotional control. This collection takes a broad view of the game dynamics and market forces that drive the video game industry, and features international contributors from Asia, Europe, and Australia.

Author : Vili Lehdonvirta
Publisher : MIT Press
ISBN 13 : 0262535068
Total Pages : 307 pages
Book Rating : 4.69/5 ( download)

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Download or read book Virtual Economies written by Vili Lehdonvirta and published by MIT Press. This book was released on 2014-05-09 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the basic concepts of economics—including markets, institutions, and money—can be used to create and analyze economies based on virtual goods. In 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. Lehdonvirta 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 consumption, and other social science theories relevant to economic behavior. Topics include the rational choice model of economic decision making; information goods versus virtual goods; supply, demand, and market equilibrium; 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.

Author : Anita Nahta Amin
Publisher : Capstone Press
ISBN 13 : 1977154972
Total Pages : 49 pages
Book Rating : 4.72/5 ( download)

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Download or read book The Business of Being a Gaming Influencer written by Anita Nahta Amin and published by Capstone Press. This book was released on 2021-12 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Matthew McCaffrey
Publisher : Cambridge University Press
ISBN 13 : 1108839711
Total Pages : 263 pages
Book Rating : 4.16/5 ( download)

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Download or read book The Invisible Hand in Virtual Worlds written by Matthew McCaffrey and published by Cambridge University Press. This book was released on 2022-02-03 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies the economic order that governs virtual worlds and ways individuals work together to govern social relations in the digital space.

Author : Roy Gardner
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 470 pages
Book Rating : 4.49/5 ( download)

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Download or read book Games for Business and Economics written by Roy Gardner and published by John Wiley & Sons. This book was released on 2003-01-23 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether you're a veteran in the business game or have just sat down to play, this book will teach you the importance of rules and how to use them to your advantage. Here you can learn the basic strategies for being competitive in a variety of situations, from the blackjack table to the boardroom table. Pull up a chair and prepare to solve gaming problems as they relate to the business and economic environments today.

Author : Marios C. Angelides
Publisher : John Wiley & Sons
ISBN 13 : 1118796276
Total Pages : 611 pages
Book Rating : 4.76/5 ( download)

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Download or read book Handbook of Digital Games written by Marios C. Angelides and published by John Wiley & Sons. This book was released on 2014-02-19 with total page 611 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the state-of-the-art in digital games research and development for anyone working with or studying digital games and those who are considering entering into this rapidly growing industry. Many books have been published that sufficiently describe popular topics in digital games; however, until now there has not been a comprehensive book that draws the traditional and emerging facets of gaming together across multiple disciplines within a single volume.

Author : S. Hotho
Publisher : Springer
ISBN 13 : 1137318414
Total Pages : 176 pages
Book Rating : 4.11/5 ( download)

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Download or read book Changing the Rules of the Game written by S. Hotho and published by Springer. This book was released on 2013-10-24 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: The computer games industry is one of the most vibrant industries today whose potential for growth seems inexhaustible. This book adopts a multi-disciplinary approach and captures emerging trends as well as the issues and challenges faced by businesses, their managers and their workforce in the games industry.