Zonk from the micro-macro-economics dept.
Inquisitor911 writes "One of the things that is peculiar about MMORPGs are the constantly changing virtual markets. For example, look at RuneScape's Economic Fluctuations
after the release of skills allowing players to build in-game houses." From the post: "The initial frenzy started with realtors. Once the announcement about the housing update was made, members flocked to purchase houses (placed in a magical portal, so they don't clutter up the landscape) and then flocked to build. A market sprang up within minutes that catered to those too busy, too intent, or too high-level to bother gathering up resources. Planks, nails, clay, rock, tiles, and more suddenly began to command exceptional prices. Clay went from 10 gold pieces to 1000 gold pieces within minutes. Right now it is hovering between a low of 600 or 700 gold pieces for dry clay to about 1000 gold pieces for wet clay, but the price is fluctuating downwards as the initial demand levels off and more suppliers get in on the action. I expect it will peak again on the weekend as more players become aware of the new function."
The solution of problems is the most characteristic and peculiar sort
of voluntary thinking.
-- William James