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
Kwame Christian: On Compassionate Curiosity, Social Justice Conversations, and Cinnamon Toast Crunch
Matt Johnson & Prince Ghuman on Mid-Liminal Marketing and the Ethics of Applied Neuroscience
Annie Duke on How to Decide
Andy Luttrell: Pro’s and Con’s of Persuasion When Issues are Moralized
Secrets to a Successful Marriage with Eli Finkel
Grooving: Colleges and the Coronavirus
How to Talk to Your Friends About Their Conspiracy Theories with Eric Oliver
Self Control, Belonging, and Why Your Most Dedicated Employees Are the Ones To Watch Out For with Roy Baumeister
Seven Questions to Assess the Psychological Safety of Your Teams with Susan Hunt Stevens
Eugen Dimant, PhD: What To Do About Bad Apples
Working through the Stages of Grief, Pandemics and the Psychology of Protests with Nicole Fisher
How Babies’ Faces on Shop Doors Can Reduce Crime: With Tara Austin
Elspeth Kirkman: Best Models for Identifying a Problem
Shlomi Ron: Visual Storying Telling In a Time of Crisis
Steve Wendel, PhD: Designing for Behavior Change
Robert Cialdini, PhD: Littering, Egoism and Aretha Franklin
Grooving: On the Principle of Scarcity
Katy Milkman, PhD: Using Behavior Change for Good
Grooving: On Goals and Goal Setting
Covid-19 Crisis: Caroline Webb, Senior Advisor at McKinsey, on The Value of Where We Place Our Attention and Amplifying Certainty
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