worst paper evrer - Thomas Cruz 595-94-0704 12/08/07...

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Thomas Cruz 595-94-0704 12/08/07 Experimental Economics WoW Experiment My idea is to have a giant experiment that is run across the country using multiple Universities. The medium of this experiment would be the World of Warcraft. World of Warcraft, is a massive, multiplayer online game. It connects people from all over the country in a fantasy world. There are over 9 million subscribers to the World of Warcraft, or WoW as it is called. Many of these players are college students. I know many people that play and attend FSU. While playing the game, I realized that it would be a great source and tool for a economic experiment. You may be wondering why it would I feel that it could be used to run a economics experiment. It just so happens that economics is very important in the World of Warcraft. The currency is gold, and there are many ways of obtaining it. People take their gold very seriously, and even pay real cash to get this fake gold on EBay. There are several tools that we can use that WoW makes available to us. This game actually has an auction house. Players can put any item that they desire up in this auction house, and set it for any price they please. Some people exclusively use the Auction house and have no interest in the rest of the game, they just buy and resell items trying to make some sort of profit with their gold, then sell it for real cash. The Auction house on WoW does not run like your standard English Oral Auction. The seller has two options or ways of selling his or her item on he
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auction house. Both ways are taxed and the auction house receives a percentage of the gold after a sale is made. The auction house also requires that you make a deposit when you put an item up for sale. If you successfully sell your item you get the deposit back, but if not the auction house keeps it. The first way of auctioning an item on WoW is to put the item up for a certain amount of time with a starting bid price. When the time expires, the highest bidder wins the item and it is mailed directly to their mail box. There are 3 different amounts of time a person can put their item up for sale, 12, 24, and 48 hours. Most people do not sell items in this way however on the auction house. The other and more preferred way is to put an item up with a minimum bid price and a “Buyout”
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This note was uploaded on 08/11/2010 for the course ACCT 2010 taught by Professor Wang during the Spring '10 term at Abraham Baldwin Agricultural College.

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worst paper evrer - Thomas Cruz 595-94-0704 12/08/07...

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