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The Invisible Hand in Virtual Worlds Matthew McCaffrey (University of Manchester)

The Invisible Hand in Virtual Worlds By Matthew McCaffrey (University of Manchester)

The Invisible Hand in Virtual Worlds by Matthew McCaffrey (University of Manchester)


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Summary

Studies how games provide a unique space to study economic behavior. It combines theory with gaming practice to look at the economics of virtual worlds and the game industry. Long-established ideas about the benefits of the division of labor and trade and new work on the evolution of social institutions and governance are explored.

The Invisible Hand in Virtual Worlds Summary

The Invisible Hand in Virtual Worlds: The Economic Order of Video Games by Matthew McCaffrey (University of Manchester)

Video games aren't merely casual entertainment: they are the heart of one of the fastest-growing media industries in the world, and a cultural phenomenon in their own right. Gaming has evolved from a niche pastime into a global business that rivals film and television, creating, in the process, new art forms and social arenas and have become the subject of endless public debate. This book shows that games also provide a unique space in which to study economic behavior. Games, more than any other form of media, demonstrate the power and creative potential of human choice - an idea that's also the foundation of economic thinking. Whether it's developing trade relations, or the use of money, or even complex legal institutions, virtual worlds provide a captivating and entertaining arena for studying economic behavior in its most dynamic forms. The overarching theme of the volume is the economic order that governs virtual worlds, and the many ways individuals work together, often without knowing it, to govern their social relations in digital space.

About Matthew McCaffrey (University of Manchester)

Matthew McCaffrey is Lecturer in Enterprise at the Alliance Manchester Business School at the University of Manchester. He is the recipient of the 2012 Richard E. Fox Foundation Research Prize, the 2010 Lawrence W. Fertig Prize in Austrian Economics, and the 2017 Gary G. Schlarbaum Prize for Excellence in Research and Teaching. His research focuses on the social and economic role of entrepreneurship, and the influence of institutions on entrepreneurial behavior. He has published on entrepreneurial decision making, judgement strategy, and the history of entrepreneurial ideas.

Table of Contents

Introduction Matthew McCaffrey; 1. The Economic Meaning of Play: Ludology and Praxeology in Video Game Worlds Matthew McCaffrey; 2. Spontaneous Order and Video Game Narrative Zachary Gochenour; 3. Law and Economics in a World of Dragons Robert S. Cavender; 4. Minerals, Titans, and Connections: The Political Economy of Empire in the World of 'EVE Online' Stephen Davies; 5. The Origins of Money in 'Diablo II' Solomon M. Stein; 6. A Virtual Weimar: Hyperinflation in 'Diablo III' Peter C. Earle; 7. The Facilitate or Acquire Decision: The Tipping Points for Strategies Towards User-Generated Content in Massive Multiplayer Online Game Platforms Robert Conan Ryan; 8. Mod the World: How Entrepreneurs Learn from Video Game 'Modding' Communities William Gordon Miller; 9. Levels without Bosses? Entrepreneurship and Valve's Organizational Design Ulrich Moller and Matthew McCaffrey.

Additional information

NPB9781108839716
9781108839716
1108839711
The Invisible Hand in Virtual Worlds: The Economic Order of Video Games by Matthew McCaffrey (University of Manchester)
New
Hardback
Cambridge University Press
2022-02-03
262
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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