Baby Elephant can't sleep because he has lost his teddy, so Elmer sets off to look for it. Eventually Elmer hears a voice shouting 'Help! I'm lost!' Can Baby Elephant's teddy talk, or is Wilbur playing a trick on Elmer, as usual?
In the twenty-first-century digital world, virtual goods are sold for real money. Digital game players happily Elmer and the Lost Teddy download ebook 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.
Author: David McKee,
Number of Pages: 32 pages
Published Date: 08 Jul 2008
Publisher: Andersen Press Ltd
Publication Country: London, United Kingdom
Download Link: Click Here
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