Edward Castronova

Edward Castronova is Associate Professor of Telecommunications at Indiana University Bloomington as of fall 2004, previously Associate Professor of Economics in the College of Business and Economics at California State University, Fullerton. He obtained a BS in International Affairs from Georgetown University in 1985 and a PhD in Economics from the University of Wisconsin-Madison in 1991. In between, he spent 18 months studying German postwar reconstruction and social policy at universities and research institutes in Mannheim, Frankfurt, and Berlin. From 1991 to 2000, he worked as an Assistant and later Associate Professor of Public Policy and Political Science at University of Rochester.

Biography

His works on synthetic worlds and their economies, and on "EverQuest" in particular, have attracted considerable attention. His paper on Norrath, a fictional planet in the EverQuest universe, " [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=294828 Virtual Worlds: A First-Hand Account of Market and Society on the Cyberian Frontier (2001)] " is available on SSRN. It claims, for example, that Norrath has a GDP per capita somewhere between that of Russia and Bulgaria, higher than that of China and India, and that a unit of "EverQuest" currency is worth more than the Yen or Lira.

His is one of four founders (along with Julian Dibbell, Dan Hunter and Greg Lastowka) of the game research blog Terra Nova. He also created the Indiana University Ludium game conferences which were build on the structure of a collaborative game environment.

In 2008, he and his team finished work on the MacArthur Foundation supported academic experiment massively multiplayer online gaming, . They documented that people in fantasy games act in an economically normal way, purchasing less of a product when prices are higher, all other things being equal. This finding may open the way for future study in synthetic worlds of real economic behavior. Said Castronova of the results, "Being an elf doesn't make you turn off the rational economic calculator part of your brain.". [http://terranova.blogs.com/terra_nova/2008/07/arden-final-res.html#more] ,]

See also

* Virtual economy
* EverQuest
*
* Terra Nova (blog)

External links

* [http://mypage.iu.edu/~castro/ Edward Castronova's webpage]
* [http://www.receiver.vodafone.com/19-synthetic-worlds "Synthetic worlds – real community, real money" article in vodafone-receiver magazine nr.19]
* [http://terranova.blogs.com/terra_nova/ Terra Nova Blog]

References

* [http://terranova.blogs.com/terra_nova/2008/07/arden-final-res.html#more Arden Final results, see comments]

Papers

* Castronova, Edward. "A Test of the Law of Demand in a Virtual World: Exploring the Petri Dish Approach to Social Science" [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1173642] , July 2008

* Castronova, Edward. "Virtual Worlds: A First-Hand Account of Market and Society on the Cyberian Frontier," [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=294828 "CESifo Working Paper No. 618"] , December 2001.
* Castronova, Edward. "On Virtual Economies," [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=338500 "CESifo Working Paper Series No. 752"] , July 2002.
* Castronova, Edward. "The Price of 'Man' and 'Woman': A Hedonic Pricing Model of Avatar Attributes in a Synthethic World," [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=415043 "CESifo Working Paper Series No. 957"] , June 2003.

Media

* [http://news.bbc.co.uk/1/hi/technology/3570224.stm BBC News - Virtual gaming worlds overtake Namibia]
* [http://slashdot.org/article.pl?sid=02/01/23/2131259&mode=thread Norrath Economic Report Now Available - Slashdot.org on Castronova's report]
* [http://www.collisiondetection.net/mt/archives/2004/05/game_theories_m.html The Walrus Magazine: "On-line fantasy games have booming economies and citizens who love their political systems. Are these virtual worlds the best place to study the real one?"]

Books

* Edward Castronova. Exodus to the Virtual World, [http://www.palgrave-usa.com Palgrave Macmillan] (2007). ISBN 1-4039-8412-3
* Edward Castronova. Synthetic Worlds, University of Chicago Press (2005). ISBN 0-226-09626-2