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

Christoph Safferling and Aaron Lowen

No 2011-30, Working Paper Series of the Department of Economics, University of Konstanz from Department of Economics, University of Konstanz

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.

JEL-codes: C81 C99 D12 D84 G14 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2011-10-07
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