Could the Virtual be Similar to the Real? A First Look from an Efficient Markets Perspective

Ruoke Yang ()
Additional contact information
Ruoke Yang: Mathematics and Computational Sciences, Department of Statistics, Stanford University, P. O. Box 14217, Stanford, CA 94305, USA

Quarterly Journal of Finance (QJF), 2013, vol. 03, issue 03n04, 1-21

Abstract: In recent years, increasing effort has been devoted to the study of virtual world economies due to their potential of increasing our understanding of the real world economy, and vice versa. Due to a scarce availability of reliable global data, previous virtual world economic studies have been largely limited to qualitative observations. This paper presents novel financial data and is the first to apply a time series approach to the forecasting of virtual commodity prices. The results are assessed against the random walk and, from an efficient markets perspective, evaluates the potential of virtual worlds becoming experimental simulations for the real.

Keywords: Virtual world economies; forecasting; simulation; intellectual property law; efficient markets hypothesis; random walk (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S2010139213500195
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:qjfxxx:v:03:y:2013:i:03n04:n:s2010139213500195

Ordering information: This journal article can be ordered from

DOI: 10.1142/S2010139213500195

Access Statistics for this article

Quarterly Journal of Finance (QJF) is currently edited by Fernando Zapatero

More articles in Quarterly Journal of Finance (QJF) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().