Author and economist Andrew Wagner’s new book, The Economics of Online Gaming, shares how economic decisions get made by players of online games. We discuss how reputations and player behaviors impact success in the game.
For instance, a very positive reputation could lead other players to work with you, but it also could lead them to take advantage of you. Andrew discovered, in this game, that while a bad reputation sets people against you, it also provided unforeseen benefits in the game, economically speaking, of course.
We agree with Andrew that economics can be intimidating because it is a math-heavy field. To some, economics is simply inaccessible. However, we all love the drama found in video games, so Andrew combined drama with economics in his book.
Also, if you’ve not checked out our new podcast channel, Weekly Grooves, please do so. Each weekly episode is short-commute ready (no more than 15 minutes long) and brings behavioral insights to the week’s headlines.
© 2020 Behavioral Grooves
Kurt Nelson, PhD: @WhatMotivates
Tim Houlihan: @THoulihan
Links
Andrew Wagner: https://www.linkedin.com/in/atwagner/
The Economics of Online Gaming: https://www.businessexpertpress.com/books/the-economics-of-online-gaming-a-players-introduction-to-economic-thinking/
Eternal Lands: https://en.wikipedia.org/wiki/Eternal_Lands
PacMan: https://en.wikipedia.org/wiki/Pac-Man
Guide to Common Biases and Heuristics: https://docs.google.com/document/d/1XHpBr0VFcaT8wIUpr-9zMIb79dFMgOVFRxIZRybiftI/edit#
Ponzi Scheme: https://en.wikipedia.org/wiki/Ponzi_scheme
Tom Petters: https://en.wikipedia.org/wiki/Tom_Petters
Bernie Madoff: https://en.wikipedia.org/wiki/Bernie_Madoff
Multilevel Marketing: https://en.wikipedia.org/wiki/Multi-level_marketing
Economies of Scale: https://en.wikipedia.org/wiki/Economies_of_scale
Reputation Capital: https://en.wikipedia.org/wiki/Reputation_capital
Comcast: https://en.wikipedia.org/wiki/Comcast
Risk Tolerance: https://en.wikipedia.org/wiki/Risk_aversion
Ethics: https://en.wikipedia.org/wiki/Ethics
Jeff Kreisler: https://www.harpercollinsspeakersbureau.com/speaker/jeff-kreisler/
Alex Azar: https://en.wikipedia.org/wiki/Alex_Azar
Boeing 737Max: https://en.wikipedia.org/wiki/Boeing_737_MAX
FAA: https://en.wikipedia.org/wiki/Federal_Aviation_Administration
Dan Ariely: https://en.wikipedia.org/wiki/Dan_Ariely
Napster: https://en.wikipedia.org/wiki/Napster
Welcome Back Kotter: https://en.wikipedia.org/wiki/Welcome_Back,_Kotter
Weekly Grooves: https://weeklygrooves.podbean.com/
Musical Links
Staind: https://en.wikipedia.org/wiki/Staind
The Fray: https://en.wikipedia.org/wiki/The_Fray
Cold Play: https://en.wikipedia.org/wiki/Coldplay
Fuel: https://en.wikipedia.org/wiki/Fuel_(band)
Green Day: https://en.wikipedia.org/wiki/Green_Day
The Rembrandts: https://en.wikipedia.org/wiki/The_Rembrandts
“I’ll Be There For You” Theme Song: https://en.wikipedia.org/wiki/I%27ll_Be_There_for_You_(The_Rembrandts_song)
John Sebastian: https://en.wikipedia.org/wiki/John_Sebastian
“Welcome Back” Theme Song: https://en.wikipedia.org/wiki/Welcome_Back_(John_Sebastian_song)
The Lovin’ Spoonful: https://en.wikipedia.org/wiki/The_Lovin%27_Spoonful
Vaccinating the World: How Behavioral Science Helps. With Michael Coleman
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Do We Control Situations or Do Situations Control Us? With John Bargh
Stanford Prison Experiment, 50 Years On: What Have We Really Learnt? With Dr Philip Zimbardo
[INTERVIEW] Are You More Honest with Google or Your Friends? With Seth Stephens-Davidowitz
[GROOVING SESSION] Are You More Honest with Google or Your Friends? With Seth Stephens-Davidowitz
[INTERVIEW] Does Money Really Make You Happy? The Research with Johannes Haushofer
[GROOVING SESSION] Does Money Really Make You Happy? The Research with Johannes Haushofer
[INTERVIEW] Smart Behavioral Economics Secrets Every Marketer Needs with Melina Palmer
[GROOVING SESSION] Smart Behavioral Economics Secrets Every Marketer Needs with Melina Palmer
[INTERVIEW] Why Good, Honest Employees Really Do Steal With Kelly Paxton
[GROOVING SESSION] Why Good, Honest Employees Really Do Steal With Kelly Paxton
Who Makes You Feel Grateful? Tell Them! With Chester Elton
[INTERVIEW] Attention: How to Capture It and Keep It with Ben Parr
[GROOVING SESSION] Attention: How to Capture It and Keep It with Ben Parr
[INTERVIEW] Make Choice Rewarding: Behavioral Insights in Marketing with Matthew Willcox
[GROOVING SESSION] Make Choice Rewarding: Behavioral Insights in Marketing with Matthew Willcox
Katy Milkman: How to Make Healthy Habits that Actually Last [GROOVING SESSION]
Katy Milkman: How to Make Healthy Habits that Actually Last [INTERVIEW]
Why We Work At Our Best, When We Feel At Our Best with Larry Senn
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