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News / 2003 / May / 31

68-page EverQuest treatise written by economist geek

  • Published at 12:19:47 PT
  • Reported by Matt Berti
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EGM reports ?Ed Castronova noticed that EverQuest players were meeting up in online auction sites and actually paying real money for virtual platinum and goods. Being a professor of economics, he crunched the numbers and came up with the exchange rate between our [US] economy and Everquest?s black market. The result: a 68-page treatise called ?Virtual Worlds: A First-Hand Account of Market and Society on the Cyberian Frontier.? The paper revealed that EverQuest?s gross national product is slightly lower than Russia?s, and that the average hourly wage is $3.42.?

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