The Economics Behind Online Gaming

The Economics Behind Online Gaming

The video gaming industry has quickly become one of the world’s fastest-growing industries. It’s now a multi-billion industry that is growing even more as more people join in and take advantage of the gaming technology. But online gaming also has a far-reaching economic impact that goes beyond the industry’s profits and revenues. In this special series on Marketplace Morning Report, we’ll explore what video games and the vast industry that surrounds them can tell us about economics, business, money and careers. Go here https://www.ufabet.company/blog/รูปแบบบาคาร่าทั้งหมด/

Economists have long studied massive multiplayer online (MMO) games, because they offer a unique opportunity to study real-world economic behavior. In these virtual communities, gamers create economies by assigning value to digital goods and then transacting those digital goods in real-time. As a result, these game worlds have become interconnected socio-political breeding grounds of economic activity.

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For example, in the MMO Eve Online, players are able to trade real-world currencies for virtual items. The game designers sometimes change the availability of raw materials in the game, and this can cause the market to fluctuate. And, if a player wants to improve their skills in the game, they can spend real-world money on gaming equipment and software that will give them an edge.

Some companies, including CCP, the maker of Eve Online, and ArenaNet, which makes Guild Wars 2, have in-house economists to study and help shape their game’s economies. However, secondary market turnover in popular MMORPGs with no trade restrictions, such as World of Warcraft and Runescape, remains speculative.

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