How Long to Read Virtual Economies

How Long Does it Take to Read Virtual Economies?

It takes the average reader 5 hours and 15 minutes to read Virtual Economies by Vili Lehdonvirta

Assuming a reading speed of 250 words per minute. Learn more

Description

How the basic concepts of economics—including markets, institutions, and money—can be used to create and analyze economies based on virtual goods. In the twenty-first-century digital world, virtual goods are sold for real money. Digital game players happily pay for avatars, power-ups, and other game items. But behind every virtual sale, there is a virtual economy, simple or complex. In this book, Vili Lehdonvirta and Edward Castronova introduce the basic concepts of economics into the game developer's and game designer's toolkits. Lehdonvirta and Castronova explain how the fundamentals of economics—markets, institutions, and money—can be used to create or analyze economies based on artificially scarce virtual goods. They focus on virtual economies in digital games, but also touch on serious digital currencies such as Bitcoin as well as virtual economies that emerge in social media around points, likes, and followers. The theoretical emphasis is on elementary microeconomic theory, with some discussion of behavioral economics, macroeconomics, sociology of consumption, and other social science theories relevant to economic behavior. Topics include the rational choice model of economic decision making; information goods versus virtual goods; supply, demand, and market equilibrium; monopoly power; setting prices; and externalities. The book will enable developers and designers to create and maintain successful virtual economies, introduce social scientists and policy makers to the power of virtual economies, and provide a useful guide to economic fundamentals for students in other disciplines.

How long is Virtual Economies?

Virtual Economies by Vili Lehdonvirta is 307 pages long, and a total of 78,899 words.

This makes it 104% the length of the average book. It also has 96% more words than the average book.

How Long Does it Take to Read Virtual Economies Aloud?

The average oral reading speed is 183 words per minute. This means it takes 7 hours and 11 minutes to read Virtual Economies aloud.

What Reading Level is Virtual Economies?

Virtual Economies is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Virtual Economies?

Virtual Economies by Vili Lehdonvirta is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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