| Edition |
First edition. |
| Description |
1 online resource (xxiv, 176 pages). |
| Physical Medium |
polychrome |
| Description |
text file |
| Series |
Economics and public policy collection,
2163-7628
|
|
Economics and public policy collection.
2163-7628
|
| Bibliography |
Includes bibliographical references (pages 155-169) and index. |
| Contents |
Part I. The market. Chapter 1. Hunting rabbits, picking flowers ; Chapter 2. RIVA -- Part II. A new guild. Chapter 3. RICH is born ; Chapter 4. The dying ember ; Chapter 5. Join guild RICH -- Part III. The rise of RICH. Chapter 6. Market war I ; Chapter 7. The guild party ; Chapter 8. The Wal-Mart of eternal lands ; Chapter 9. The crafting market collapse ; Chapter 10. The RICH effect ; Chapter 11. Market war II ; Chapter 12. Market war III -- Part IV. The game changes. Chapter 13. Cooldown ; Chapter 14. The emerald valley trade route ; Chapter 15. Hydrogenium ; Chapter 16. Broken and rebuilt ; Chapter 17. The new eternal lands -- Appendix A. Who is Mr. Mind? -- Appendix B. Concepts by chapter. |
| Access |
Access restricted to authorized users and institutions. |
| Summary |
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 startup 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 book covers some basic economic concepts such as definitions that describe pieces and features of an economic system; how decisions are influenced by time and money; how supply and demand can change, and how those changes affect a market; and different forms of market structures and their effects on competition. The book also covers more unique economic issues like when boycotting succeeds and fails; the collapse of a cartel; employee loyalty; how a "bad" reputation can actually improve sales; how regulations can have unintended consequences; and who gets left behind when a market changes. |
| Form |
Also available in print. |
| System Details |
Mode of access: World Wide Web. |
|
System requirements: Adobe Acrobat reader. |
| Provenance |
Purchased with the Phippen Library Fund. |
| Subject |
Video games -- Economic aspects.
|
|
Video games -- Economic aspects. |
|
Video games. |
| Genre/Form |
Video games.
|
| Subject |
Video games industry -- Economic aspects.
|
|
Video games industry. |
| Indexed Term |
Video games. |
|
Video game economics. |
|
Scarcity. |
|
Market dynamics. |
|
Market structure. |
|
Market competition. |
|
Market power. |
|
MMO. |
|
MMORPG. |
|
Reputational capital. |
|
Predatory pricing. |
|
Price dumping. |
|
Price controls. |
|
Monopoly. |
|
Regulatory capture. |
| Genre/Form |
Electronic books.
|
| Other Form: |
Print version: 9781948580915 |
| ISBN |
9781948580922 e-book |
|
9781948580915 print |
|
