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Macroeconomic Indicators in a Virtual Economy

French economist François Quesnay (1694-1774)My virtual economy -related Master’s thesis (University of Helsinki, economics), titled Macroeconomic Indicators in a Virtual Economy, is now publicly available. As the name of the thesis implies, I ended up concentrating on the macro approach to virtual economies. I developed a measure of aggregate production for a virtual economy, and identified a suitable measure of inflation. A previous blog entry briefly described the idea behind the aggregate production measure, which I call the Gross User Product (GUP). To add some flesh to theory, the thesis also includes measures of GUP and inflation in EVE Online. I’ll probably be blogging on some of the findings in more detail later on.

The abstract and the whole thesis are available in the bibliography.

I read your thesis

Hi! I’m doing research along similar lines (measuring aggregate production in virtual worlds) for my undergraduate thesis and was excited to read your work. Because of this I was particularly interested in section 5.2 of your thesis which discusses aggregate production. I thought your treatment of the “environment” was very insightful (but then again I am a sucker for flow charts). I would love the chance to talk to you more about the research your doing in virtual economics.

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