Virtual Worlds & A Simulated Market Economy

RedEagle_P1

Administrator
Staff member
Proud Citizen of Dawn
#1
Mission & Vision:

Virtual worlds have huge untapped potential to revolutionize how people communicate. Our goal is to create a virtual world that enables people to achieve greater social organization and stratification than in physical life.


Today:

However, we have to be honest with ourselves, virtual worlds are very far from this currently. People's initial instinct in a virtual environments is to focus on short-term self-satisfaction. They troll, they grief and often they cause drama.


How do we bring people together?

Social organization as we have it today has developed over thousands of years. Rather than reinventing the wheel, I believe, if we can simulate certain elements of physical life we may be able to get the same results.

Although "physical life" offers us many other clues, I believe, a simulated market economy is a key way to bring people together.

Namely, the intense trade and interdependency of different disciplines incentivizes cooperation rather than conflict.


What's the best way to "simulate" a market economy?

In my experiments so far any sort of central planning in economics leads to disaster due to the “knowledge gap.” By setting prices for goods you create all sorts of unwanted anomalies. All I can say is the moment I touch anything, it turns to chaos, but the moment I get my hands away from people and let them buy and sell goods at their own prices it works.

>> This means we need to allow a market economy to naturally develop.
 
#4
So basically, the player who first introduces and item will set the market price? The next players who set a price for that crafted item will even out the price? I.E. Player 1 crafts a Glass Jar and sets a price of 3 eagles. Player 2 then also crafts a Glass Jar and sets it's price to $10. Making the market price now $6,50 am I correct? How are players able to get eagles in the first place? It has to come from somewhere. Someone, somewhere has to provide intel on what an eagle is worth right? Wouldn't it all end up beind centralized in the first place?
 
Patreon
Top