Video Game Company Hires Economist to Get a Handle on In-Game Economy

Many virtual world game companies are finding their games have their own economies, whether intentional or they just happen organically by the gamers themselves. For those that happen organically, such as in Team Fortress 2, the economy takes form in a barter system. Items within the game become currency that is traded and re-traded for items you need or just want. In many cases, the items that are in hot demand change day-by-day.

To add to the complexity, some virtual worlds, such as SecondLife, are drawing advertisers. In-world businesses and real-world businesses are setting up their virtual presence, creating virtual economies that are spilling over into reality.

So, what are video and virtual game companies to do to get a handle on what is happening in their own universe? Enter the economists. Yanis Varoufakis is just one such economist recently hired by Valve to study their in-game economy.

Read more at NPR.org for more on what Varoufakis is doing for Valve.

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