Virtual/Real Currencies (was: RE: [MUD-Dev] [NEWS] Gaming Open Market)

[Timothy Dang]

On Thu, 1 Jul 2004, Freeman, Jeff wrote:
> From: David Blankley

>> B) One area where this would have tremendous value is empirical
>> economic research.  An economy with independant agents where the
>> owner (or the agents, doesn't really matter which) gets to play
>> central banker and observe behavioral changes and system wide
>> consequences without causing havoc in the $7tn US economy has
>> obvious merit.

<snip>

> That doesn't lend heft to your argument, it just establishes your
> bias.  Economists think game currency should become real currency,
> AI researchers think most problems with games could be solved with
> better AI.  Professional writers think games will become a million
> times better only when game devs hire real writers to implement
> story.  I swear if there's an auto-mechanic on this list he's
> going to claim the problem with MUDs is their lack of internal
> combustion engines.

> I think you're all crazy.

I have to say, as an economist, I don't particularly think game
currency should become real currency. "Ever" is a very long time,
though. It's quite possible to imagine that in 50 years there will
be at least one "game" with such a large subscriber base and social
import than it would be worthwhile having an exchange market between
its currency and RL currency. And I agree that David's right that
the company offering the service might decide that it's not
worthwhile pegging the currency to a spcific RL currency. But I'd
rank that as a *could happen*, not a *should happen*.

On the other hand, as someone who wants to do empirical economic
research in ORPG's, I think that it would be most valuable to have a
game *without* any trade or exchange for RL currency (or other game
currencies for that matter). For most purposes, the more closed a
game world's economy, the more valuable it can be for research.

------------------------------
Timothy O'Neill Dang / Cretog8
520-884-7261
One monkey don't stop no show.
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