The economics of video games

“Bloomfield is working on a platform, called the Synthetic Economy Research Environment, that could enable economists to produce games that simulate large-scale economic phenomenon like a central bank.”

I often wondered whether professor Robert Bloomfield (Johnson School of Management at Cornell University) was still involved in virtual worlds research. He was the charismatic host of the rather high-brow Metanomics talk-show in Second Life. Now I got my answer, via Brad Plumer who published a post about the economics of video games on Wonkblog at The Washington Post. 
via Diigo http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/09/28/the-economics-of-video-games/

Another professor known for his virtual worlds research, Edward Castronova, reacted on the WaPo-post on Terra Nova. The Metanomics-site still exists, but it seems there are no more updates.

Virtual Goods: Opportunities, Challenges and Acquisitions

My favorite virtual show Metanomics will discuss tomorrow, on Monday October 18, the hot topic of ‘virtual goods’:

Now, the virtual goods industry has moved well beyond Silicon Valley and has the interest of Wall Street. From Facebook to Zynga to Second Life, the virtual goods industry has seen rapid growth over the past few years. They have redefined games where subscription-based models have been replaced by free-to-play games that sell virtual goods to a thin sliver of their player base: what are often called the ‘whales’.

Michael (Mick) Bobroff is no stranger to emerging markets. In the early 1990s, Mick was deeply involved in another new frontier which opened up in unpredictable ways: Russia. Now, a Partner at Ernst & Young, Bobroff is examining the challenges and opportunities of the virtual goods market.

The embrace of social gaming platforms and virtual goods will, he believes, lead to continued opportunities for venture capitalists and we’ll soon see large firms making acquisitions in the virtual goods arena.

Metanomics host Robert Bloomfield hosts Michael Bobroff at our new day (Monday) October 18th at 12 p.m. PT.

You can join in through our main stage in Second Life, or watch a live video stream of the event on this page.

More about the show and the speaker on Metanomics.net.

Metanomics innovates once again, adds meet-ups, gets celebrity-guests

The Second Life show Metanomics is about to start a new season, and is innovating once again. In fact, Metanomics would be a great research topic for communication and media students, as it demonstrates key principles of new media.

Metanomics is owned and operated by Remedy Communications which also owns the blog Dusan Writer’s Metaverse.

Dusan Writer, in “real life” Doug Thompson and owner of Remedy, explains on his blog: “Metanomics provides insight into the changes in governance, economics, policy, enterprise, education and the nature of work facilitated by newer technologies. Guests have included authors, researchers, technologists, professionals, theorists and government policy makers and recently celebrated 100 episodes.”

In fact, Metanomics does many things. It is a gathering in Second Life, where people backchat while the host, professor Robert Bloomfield,  interviews the guests and takes up questions from the backchat. Treet.tv video streams the show on the Metanomics website, where the episodes are also archived. People who cannot join ‘in-world’ can participate in the backchat from the site.

This season another element will be added: a series of local meet-ups timed to show days. The first live meet-up will be held at Research Triangle Park in North Carolina. The audience will watch and participate in a Metanomics broadcast followed by discussion and networking.

Metanomics is a great example of how to immerse a global audience in an intellectual show, using web chat, virtual chat, video, blog texts providing context, transcripts, virtual community meetings and now also interaction in the physical world.

Join us at 12pm PST on October 4th at 12:00 p.m. PST/SLT in-world, when the usual host, professor Bloomfield, will this time be the guest and talk about Real World Lessons from Virtual Worlds, a subject which interests me, being a financial journalist, a lot: “Can virtual worlds provide insight into economic behavior? Does playing a game equate with how we interact in the physical world? What would a system look like that would let us test assumptions about how governments, companies and individuals act?”

I also have a background in philosophy, so I’m equally exited about the show on October 12th, featuring professor Noam Chomsky. Professor of linguistics at the Massachusetts Institute of Technology (MIT), he has written and lectured widely on linguistics, philosophy, intellectual history, contemporary issues, international affairs and U.S. foreign policy.