Arbeitspapier
Emergence of networks and market institutions in a large virtual economy
A complete set of transactions, more than 40 million within a 1.8 year span, allows us to track the evolution of the trader network and the goods network in an on-line trading community. The computer platform was designed to make barter exchange as attractive as possible; money was not part of the design and all players were created equal. Yet, within weeks, several specific goods began to emerge as media of exchange, and not long after that various sorts of specialized traders began to appear. We track their progress using network-theoretic metrics such as node strength, assortativity, betweenness and closeness. By the end of our sample, virtually all trade was money-mediated and market makers played a major role.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 728
- Classification
-
Wirtschaft
- Event
-
Geistige Schöpfung
- (who)
-
Kephart, Curtis
Friedman, Daniel
Baumer, Matt
- Event
-
Veröffentlichung
- (who)
-
University of California, Economics Department
- (where)
-
Santa Cruz, CA
- (when)
-
2015
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Kephart, Curtis
- Friedman, Daniel
- Baumer, Matt
- University of California, Economics Department
Time of origin
- 2015
Other Objects (12)
Emergence of networks and market institutions in a large virtual economy
Emergence of networks and market institutions in a large virtual economy
Social institutions : their emergence, maintenance, and effects
Large scale collaborative virtual environments
Happiness, Economy and Institutions
Fine grained authorization services in virtual organizations : refined access control decision making in large institutions
Aggregate dynamics in a large virtual economy: Prices and real activity in Team Fortress 2
Political Economy of Fiscal Institutions
A model of Russia's "virtual economy"
Land inequality and the emergence of human capital promoting institutions
The Emergence of Informal Institutions among Internal Migrants in Urban China
General equilibrium and the emergence of (non)market clearing trading institutions
Emergence of networks and market institutions in a large virtual economy
Emergence of networks and market institutions in a large virtual economy
Social institutions : their emergence, maintenance, and effects
Large scale collaborative virtual environments
Happiness, Economy and Institutions
Fine grained authorization services in virtual organizations : refined access control decision making in large institutions
Aggregate dynamics in a large virtual economy: Prices and real activity in Team Fortress 2
Political Economy of Fiscal Institutions
A model of Russia's "virtual economy"
Land inequality and the emergence of human capital promoting institutions
The Emergence of Informal Institutions among Internal Migrants in Urban China
General equilibrium and the emergence of (non)market clearing trading institutions
Emergence of networks and market institutions in a large virtual economy
Emergence of networks and market institutions in a large virtual economy
Social institutions : their emergence, maintenance, and effects
Large scale collaborative virtual environments
Happiness, Economy and Institutions
Fine grained authorization services in virtual organizations : refined access control decision making in large institutions
Aggregate dynamics in a large virtual economy: Prices and real activity in Team Fortress 2
Political Economy of Fiscal Institutions
A model of Russia's "virtual economy"
Land inequality and the emergence of human capital promoting institutions
The Emergence of Informal Institutions among Internal Migrants in Urban China