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RSS feedSimple Economics of Real-Money Trading in Online Games
Author
Huhh, Jun-Sok
Year
2008
Publication information
Working paper, last revised May 7.
Suggested citation
Huhh, Jun-Sok (2008). Simple Economics of Real-Money Trading in Online Games. Working paper, last revised May 7.
Available online at:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1089307
| Attachment | Size |
|---|---|
| EconomicsRMT2.pdf | 432.34 KB |
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Abstract from the paper
This paper is to provide a theoretical investigation on real-money trading (RMT) ob-
served frequently in online games. To overcome former studies focused much on descrip-
tion itself, economic incentives behind RMT are modeled and identi?ed by reconsidering
economic studies related. Firstly, RMT is analyzed by its modes of trading. It is shown
that two modes of trading, the continuous and the discrete, have di?erent consequences
on the con?guration of RMT market. Secondly, economic impacts of RMT are explored
in the context of network externalities. Thirdly, welfare implications between servicing
?rm and players are adressed in the dynamic context. Finally, two issues of RMT, gold
farming and micro-payment, are shortly addressed as an application for the analysis.