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Economics in the Kingdom of Loathing: Analysis of Virtual Market Data

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  • Christoph Safferling

    ()
    (Institut für Betriebswirtschaftslehre, Universität Wien, Austria)

  • Aaron Lowen

    ()
    (484C DeVos Center, Grand Valley State University, 401 W. Fulton St. Grand Rapids)

Abstract

We analyze a unique data set from a massively-multiplayer online video game economy called The Kingdom of Loathing to assess the viability of these markets in conducting economic research. The data consist of every transaction in a market with over one million players over three years of real time. We find that 1) the game markets are efficient, 2) the complexity of the product determines information diffusion times, and 3) we can classify which and how players participate in trade.

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Bibliographic Info

Paper provided by Department of Economics, University of Konstanz in its series Working Paper Series of the Department of Economics, University of Konstanz with number 2011-30.

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Length: 39 pages
Date of creation: 07 Oct 2011
Date of revision:
Handle: RePEc:knz:dpteco:1130

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