A Neoclassical Microeconomic Investigation of Choice Problems in Virtual Worlds

Neil Thurgood

Date of Award

2006

Document Type

Thesis

Degree Name

Bachelors

Department

Social Sciences

First Advisor

Elliott, Catherine

Keywords

Game Theory, Attribute Analysis, Castronova, Virtual Worlds

Area of Concentration

Economics

Abstract

Massively Multiplayer Online Roleplaying Games, once a niche-market within the large computer gaming industry, have become somewhat of a fixture in modern society. Players, through controlling an avatar, inhabit the virtual worlds within these games, and perform actions that lead to what could be considered living a virtual life. As the large populations within these games comprise societies in themselves, said populations likely offer a wealth of information to researchers because the worlds are similar to our own real world. This thesis sets out to aid in laying a foundation for microeconomic research in these virtual worlds by proposing behavioral models that serve both to illustrate and predict player behavior in virtual worlds. Matters of time allocation between the game-equivalents of labor and leisure are analyzed, as well as formation of player groups known as parties. Finally, consumption behavior is modeled and the thesis comes full circle by attempting to determine what players prefer in game design. I conclude that the models do serve their respective illustrative purposes, and that microeconomic research in virtual worlds is possible. The thesis ends in a plea to social scientists to move their research focus to virtual worlds.

Rights

This bibliographic record is available under the Creative Commons CC0 public domain dedication. The New College of Florida, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.

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