Download or read book The Economics of Online Gaming written by Andrew Wagner and published by Business Expert Press. This book was released on 2020-02-14 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. 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 start-up 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 Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. Each of these topics begins with the context of a story and continues with an explanation of the economic theory behind it, finishing with a relevant real-world connection. It supports economic theory in an emotional way that cannot be shared through math or charts or graphs. Appendix B provides a comprehensive outline of ideas for teaching and discussion in each chapter.
Download or read book The Economist Video Games written by The Economist Publications (PUK Rights) and published by Penguin UK. This book was released on 2012-03-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Penguin Economist Special reports delve into the most pressing economic issues of the day: from national and global economies, to the impact of trade, industry and jobs. Written to be read on a long commute or in your lunch hour - be better informed in under an hour. In the US, the average age of a gamer is 37 and 42% are female. Last year the industry earned $56billion worldwide. Tim Cross analyses the proliferation of the video games in this Economist special report, and how its successes are set to grow. Sections in the report include: All the world's a game As you like it The business of gaming: Thinking out of the box Paying for pixels E-sports: Gentlemen, start your computers Violence and addiction: No killer app Alternative uses: The play's the thing The importance of fun: Homo ludens
Download or read book The Evolution and Social Impact of Video Game Economics written by Casey B. Hart and published by Lexington Books. This book was released on 2017-07-13 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, consumers of video games spend over $22.4 billion each year; using more complex and multi-layered strategies, game developers attempt to extend the profitability of their products from a simple one-time sale, to continuous engagement with the consumer. The Evolution and Social Impact of Video Game Economics examines paradigmatic changes in the economic structure of the video game industry from a media effects and game design perspective. This book explores how game developers have changed how they engage players in order to facilitate continuous financial transactions. Contributors look from the advent of microtransactions and downloadable content (DLCs) to the impact of planned obsolescence, impulse buying, and emotional control. This collection takes a broad view of the game dynamics and market forces that drive the video game industry, and features international contributors from Asia, Europe, and Australia.
Download or read book An Economist Goes to the Game written by Paul Oyer and published by Yale University Press. This book was released on 2022-01-01 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: An engaging look at the ways economic thinking can help us understand how sports work both on and off the field "Mr. Oyer writes clearly and ranges across all sorts of sports as well as across the globe, introducing fascinating observations."--Henry D. Fetter, Wall Street Journal Are ticket scalpers good for teams? Should parents push their kids to excel at sports? Why do Koreans dominate women's golf, while Kenyans and Ethiopians dominate marathon racing? Why would Michael Jordan, the greatest player in basketball, pass to Steve Kerr for the game-winning shot? Paul Oyer shows the many ways economics permeates the world of sports. His topics range from the business of sport to how great athletes use economic thinking to outsmart their opponents to why the world's greatest sports powerhouse (at least per capita) is not America or China but the principality of Liechtenstein. Economics explains why some sports cannot stop the use of performance-enhancing drugs while others can, why hundred-million-dollar player contracts are guaranteed in baseball but not in football, how one man was able to set the world of sports betting on its ear--and why it will probably never happen again. This book is an entertaining guide to how a bit of economics can make you a better athlete and a more informed fan.
Download or read book Playing with Reality written by Kelly Clancy and published by Penguin. This book was released on 2024-06-18 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: A wide-ranging intellectual history that reveals how important games have been to human progress, and what’s at stake when we forget what games we’re really playing. We play games to learn about the world, to understand our minds and the minds of others, and to make predictions about the future. Games are an essential aspect of humanity and a powerful tool for modeling reality. They’re also a lot of fun. But games can be dangerous, especially when we mistake the model worlds of games for reality itself and let gamification co-opt human decision making. Playing with Reality explores the riveting history of games since the Enlightenment, weaving an unexpected path through military theory, political science, evolutionary biology, the development of computers and AI, cutting-edge neuroscience, and cognitive psychology. Neuroscientist and physicist Kelly Clancy shows how intertwined games have been with the arc of history. War games shaped the outcomes of real wars in nineteenth and twentieth century Europe. Game theory warped our understanding of human behavior and brought us to the brink of annihilation—yet still underlies basic assumptions in economics, politics, and technology design. We used games to teach computers how to learn for themselves, and now we are designing games that will determine the shape of society and future of democracy. In this revelatory new work, Clancy makes the bold argument that the human fascination with games is the key to understanding our nature and our actions.
Download or read book The Economics of a Video Game written by Kathryn Hulick and published by . This book was released on 2013-12-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides facts and statistics about the economics of video games, covering such topics as brand loyalty, game design, and building hype.
Download or read book Games in Economic Development written by Bruce Wydick and published by Cambridge University Press. This book was released on 2007-12-24 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Games in Economic Development examines the roots of poverty and prosperity through the lens of elementary game theory, illustrating how patterns of human interaction can lead to vicious cycles of poverty as well as virtuous cycles of prosperity. This book shows how both social norms and carefully designed institutions can help shape the 'rules of the game', making better outcomes in a game possible for everyone involved. The book is entertaining to read, it can be accessed with little background in development economics or game theory. Its chapters explore games in natural resource use; education; coping with risk; borrowing and lending; technology adoption; governance and corruption; civil conflict; international trade; and the importance of networks, religion, and identity, illustrating concepts with numerous anecdotes from recent world events. Comes complete with an appendix, explaining the basic ideas in game theory used in the book.
Download or read book Game Theory for Economists written by Jürgen Eichberger and published by Emerald Group Publishing. This book was released on 1993 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduces the game-theoretic approach of modelling economic behaviour and interaction, focusing on concepts and ideas from the field of game-theoretic models which find commonly used applications in economics. This book provides the reader with skills necessary to formalize economic games and to make them accessible for game theoretic analysis.
Download or read book The Revolution That Wasn t written by Spencer Jakab and published by Penguin. This book was released on 2022-02-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The saga of GameStop and other meme stocks is revealed with the skill of a thrilling whodunit. Jakab writes with an anti-Midas touch. If he touched gold, he would bring it to life." --Burton G. Malkiel, author of A Random Walk Down Wall Street From Wall Street Journal columnist Spencer Jakab, the real story of the GameStop squeeze—and the surprising winners of a rigged game. During one crazy week in January 2021, a motley crew of retail traders on Reddit’s r/wallstreetbets forum had seemingly done the impossible—they had brought some of the biggest, richest players on Wall Street to their knees. Their weapon was GameStop, a failing retailer whose shares briefly became the most-traded security on the planet and the subject of intense media coverage. The Revolution That Wasn’t is the riveting story of how the meme stock squeeze unfolded, and of the real architects (and winners) of the GameStop rally. Drawing on his years as a stock analyst at a major bank, Jakab exposes technological and financial innovations such as Robinhood’s habit-forming smartphone app as ploys to get our dollars within the larger story of evolving social and economic pressures. The surprising truth? What appeared to be a watershed moment—a revolution that stripped the ultra-powerful hedge funds of their market influence, placing power back in the hands of everyday investors—only tilted the odds further in the house’s favor. Online brokerages love to talk about empowerment and “democratizing finance” while profiting from the mistakes and volatility created by novice investors. In this nuanced analysis, Jakab shines a light on the often-misunderstood profit motives and financial mechanisms to show how this so-called revolution is, on balance, a bonanza for Wall Street. But, Jakab argues, there really is a way for ordinary investors to beat the pros: by refusing to play their game.
Download or read book The Economics of Online Gaming A Player s Introduction to Economic Thinking written by Andrew Wagner and published by . This book was released on 2019-06 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. 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 start-up 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 Economics of Online Gaming covers basic economic concepts, unique economic issues, and general economic themes. Each of these topics begins with the context of a story and continues with an explanation of the economic theory behind it, finishing with a relevant real-world connection. It supports economic theory in an emotional way that cannot be shared through math or charts or graphs. Appendix B provides a comprehensive outline of ideas for teaching and discussion in each chapter.
Download or read book Synthetic Worlds written by Edward Castronova and published by University of Chicago Press. This book was released on 2008-09-15 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: From EverQuest to World of Warcraft, online games have evolved from the exclusive domain of computer geeks into an extraordinarily lucrative staple of the entertainment industry. People of all ages and from all walks of life now spend thousands of hours—and dollars—partaking in this popular new brand of escapism. But the line between fantasy and reality is starting to blur. Players have created virtual societies with governments and economies of their own whose currencies now trade against the dollar on eBay at rates higher than the yen. And the players who inhabit these synthetic worlds are starting to spend more time online than at their day jobs. In Synthetic Worlds, Edward Castronova offers the first comprehensive look at the online game industry, exploring its implications for business and culture alike. He starts with the players, giving us a revealing look into the everyday lives of the gamers—outlining what they do in their synthetic worlds and why. He then describes the economies inside these worlds to show how they might dramatically affect real world financial systems, from potential disruptions of markets to new business horizons. Ultimately, he explores the long-term social consequences of online games: If players can inhabit worlds that are more alluring and gratifying than reality, then how can the real world ever compete? Will a day ever come when we spend more time in these synthetic worlds than in our own? Or even more startling, will a day ever come when such questions no longer sound alarmist but instead seem obsolete? With more than ten million active players worldwide—and with Microsoft and Sony pouring hundreds of millions of dollars into video game development—online games have become too big to ignore. Synthetic Worlds spearheads our efforts to come to terms with this virtual reality and its concrete effects. “Illuminating. . . . Castronova’s analysis of the economics of fun is intriguing. Virtual-world economies are designed to make the resulting game interesting and enjoyable for their inhabitants. Many games follow a rags-to-riches storyline, for example. But how can all the players end up in the top 10%? Simple: the upwardly mobile human players need only be a subset of the world's population. An underclass of computer-controlled 'bot' citizens, meanwhile, stays poor forever. Mr. Castronova explains all this with clarity, wit, and a merciful lack of academic jargon.”—The Economist “Synthetic Worlds is a surprisingly profound book about the social, political, and economic issues arising from the emergence of vast multiplayer games on the Internet. What Castronova has realized is that these games, where players contribute considerable labor in exchange for things they value, are not merely like real economies, they are real economies, displaying inflation, fraud, Chinese sweatshops, and some surprising in-game innovations.”—Tim Harford, Chronicle of Higher Education
Download or read book Theory of Games and Economic Behavior written by John Von Neumann and published by Diana. This book was released on 2020-01-29 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the classic work upon which modern-day game theory is based. What began as a modest proposal that a mathematician and an economist write a short paper together blossomed, when Princeton University Press published Theory of Games and Economic Behavior. In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.
Download or read book How to Talk about Videogames written by Ian Bogost and published by U of Minnesota Press. This book was released on 2015-11-15 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Videogames! Aren’t they the medium of the twenty-first century? The new cinema? The apotheosis of art and entertainment, the realization of Wagnerian gesamtkunstwerk? The final victory of interaction over passivity? No, probably not. Games are part art and part appliance, part tableau and part toaster. In How to Talk about Videogames, leading critic Ian Bogost explores this paradox more thoroughly than any other author to date. Delving into popular, familiar games like Flappy Bird, Mirror’s Edge, Mario Kart, Scribblenauts, Ms. Pac-Man, FarmVille, Candy Crush Saga, Bully, Medal of Honor, Madden NFL, and more, Bogost posits that videogames are as much like appliances as they are like art and media. We don’t watch or read games like we do films and novels and paintings, nor do we perform them like we might dance or play football or Frisbee. Rather, we do something in-between with games. Games are devices we operate, so game critique is both serious cultural currency and self-parody. It is about figuring out what it means that a game works the way it does and then treating the way it works as if it were reasonable, when we know it isn’t. Noting that the term games criticism once struck him as preposterous, Bogost observes that the idea, taken too seriously, risks balkanizing games writing from the rest of culture, severing it from the “rivers and fields” that sustain it. As essential as it is, he calls for its pursuit to unfold in this spirit: “God save us from a future of games critics, gnawing on scraps like the zombies that fester in our objects of study.”
Download or read book Reality Is Broken written by Jane McGonigal and published by Penguin. This book was released on 2011-01-20 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: “McGonigal is a clear, methodical writer, and her ideas are well argued. Assertions are backed by countless psychological studies.” —The Boston Globe “Powerful and provocative . . . McGonigal makes a persuasive case that games have a lot to teach us about how to make our lives, and the world, better.” —San Jose Mercury News “Jane McGonigal's insights have the elegant, compact, deadly simplicity of plutonium, and the same explosive force.” —Cory Doctorow, author of Little Brother A visionary game designer reveals how we can harness the power of games to boost global happiness. With 174 million gamers in the United States alone, we now live in a world where every generation will be a gamer generation. But why, Jane McGonigal asks, should games be used for escapist entertainment alone? In this groundbreaking book, she shows how we can leverage the power of games to fix what is wrong with the real world-from social problems like depression and obesity to global issues like poverty and climate change-and introduces us to cutting-edge games that are already changing the business, education, and nonprofit worlds. Written for gamers and non-gamers alike, Reality Is Broken shows that the future will belong to those who can understand, design, and play games. Jane McGonigal is also the author of SuperBetter: A Revolutionary Approach to Getting Stronger, Happier, Braver and More Resilient.
Download or read book The Invisible Hand in Virtual Worlds written by Matthew McCaffrey and published by . This book was released on 2021-04 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "Video games aren't merely casual entertainment: they are the heart of one of the fastest-growing media industries in the world, and a cultural phenomenon in their own right. In the past forty years, gaming has evolved from a niche pastime relegated to the back rooms of arcades into a global business that rivals film and television. In the process, games have created new art forms and social arenas-as well as their fair share of political controversy-and become the subject of endless public debate. This book shows that games also provide a unique space in which to study economic behavior. Games, more than any other form of media, demonstrate the power and creative potential of human choice-an idea that's also the foundation of economic thinking. Whether it's developing trade relations, or the use of money, or even complex legal institutions, virtual worlds provide a captivating and entertaining arena for studying economic behavior in its most dynamic forms. The chapters combine theory with gaming practice to create an original story about the economics of virtual worlds and about the game industry. Various economic themes are represented, from long-established ideas about the benefits of the division of labor and trade to new work on the evolution of social institutions and governance. The authors explore these ideas within the virtual worlds of games to show how economic behavior evolves over time to resolve conflict and promote social cooperation. The overarching theme of the volume is the economic order that governs virtual worlds, and the many ways individuals work together, often without knowing it, to govern their social relations in digital space. The chapters also offer a wide range of practical implications for both gaming and economics, implications that span research, teaching, and public policy"--
Download or read book Gaming the Market written by Ronald B. Shelton and published by John Wiley & Sons. This book was released on 1997-04-25 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die Spieltheorie betrachtet Entscheidungen als "Schachzüge" in einem Spiel, dessen Ausgang von den Entscheidungen aller Spieler bestimmt wird. Diese Theorie wird hier erstmals auf Investmentgeschäfte am Finanzmarkt angewendet. Nach der Definition der "Spielregeln" und der "Spieler" wird, basierend auf Formeln der Wahrscheinlichkeitsrechnung, ein Spielmodell entwickelt, das die Rentabilität von beliebigen Finanzaktionen wie Aktienkauf und -verkauf vorhersagt.
Download or read book The Economist s View of the World written by Steven E. Rhoads and published by Cambridge University Press. This book was released on 1985-05-23 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains and assesses the ways in which micro, welfare and benefit-cost economists view the world of public policy. In general terms, microeconomic concepts and models can be seen to appear regularly in the work of political scientists, sociologists and psychologists. As a consequence, these and related concepts and models have now had sufficient time to influence strongly and to extend the range of policy options available to government departments. The central focus of this book is the 'cross-over' from economic modelling to policy implementation, which remains obscure and uncertain. The author outlines the importance of a wider knowledge of microeconomics for improving the effects and orientation of public policy. He also provides a critique of some basic economic assumptions, notably the 'consumer sovereignty principle'. Within this context the reader is in a better position to understand the 'marvellous insights and troubling blindnesses' of economists where often what is controversial politically is not so controversial among economists.
