Product Description
by Andrew Wagner (Author)
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.
Author Biography
Andrew Wagner is a dedicated gamer and a passionate advocate for economics education. He is the founder and chief investment officer of Wagner Road Capital Management, LLC, a Minnesota-based registered investment adviser. Through his firm, he provides investment consulting services to professional fund managers and manages an investment fund that identifies and invests in high-quality companies. His professional experience covers consulting projects in a wide range of investment strategies, asset classes, and industries, and his ghost-written research has appeared in national and regional publications. He has a master's degree in economics from Kansas State University.
