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EVE Online's First Quarterly Economics Report Published
The first quarterly report from EVE Online's very own economist has been released at the game's official site. GamesIndustry.biz has some comments from Dr. Guðmundsson on this first batch of numbers, exploring a bit of his methodology and the joys of working in EVE's closed environment: "Since life in Eve evolves at a faster pace than real life, we must use a so-called 'chained price index' rather than a representative basket. In real life, representative baskets are always used and in many cases the surveys for these baskets are done with very long time intervals. By looking at our results it is obvious how the fixed basket approach can overestimate the impact of price changes, just as predicted by theory. With consumer preferences changing faster now in real life than ever before (consumer electronics is a good example), this might be a lesson that could help us understand better changes in price levels and how we measure that outside virtual worlds."
The summary should include a link to the report itself.
There's a very simple way to handle isk farmers in 0.0, thankfully.
It involves blowing them up.
(Isk farmers drop great loot, by the way.)
Economics is all about models. They LOVE models, big sexy mathematical models, tying together figures on wildly different things to try to get a sense of the direction of the economy...Economists can pick some really silly stuff to plug into their models, so imaginary widgets isn't out of the realm of possibility.
In this situation, they can actually apply their model, and watch things play out through the actions of real people, even if they're all dealing in imaginary goods. It's really exciting stuff, especially since the changes happen faster than "real world time" so you can get a since of price fluctuations much more quickly than you could out in the real world. It's also a closed system, so you have access to ALL the variables.
ad logicam Claiming a proposition is false because it was presented as the conclusion of a fallacious argument.
You have to actually work hard in this game.
Reread your own statement multiple times if you don't see the fault in it.
Working hard *at* a game is one thing, working hard *in* one is completely different.
--- I do not moderate.