Everything I know about Economics I learned by playing video games

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Christopher Marks (15) explains the intricacies of farming and trading in video games. See the video at http://j.mp/kitIgnite

Transcript of Everything I know about Economics I learned by playing video games

  • 1. Everything I know aboutEconomics I learned by playing video gamesChristopher Marks

2. Killing Cows 3. Being undercut.. for profit! 4. My first steps in Arbitrage= 100gp at my sell price+ = 100gp at my buy price2 for the price of 1 = profit! 5. Manufacturing goods + Arbitrage = 17k coins from NPC store+= 1k coins street price= = 55k street price55k-18k = 37k profit 6. Grand Exchange 7. ChartismStep one: go to "top 100 price drop by %Step two: find a useful item (for pking, PvM, etc)Step three: look for daily line under 30-day lineStep four: Buy up stock of item, watch it rise???????Profit (by selling it, obviously) 8. Clan Merchanting (larger Chartism) 9. Junk trading (to get around tradelimits) 10. Flipping (arbitrage via the G.E.)How to:1) find the price range by buyingthe item for higher than mid andselling for lower than mid (sincethe ge insta matches trades)2) then, buy multiples of the itemfor 1gp over the lower bound,and sell them for 1gp under thehigher bound. 11. Useful items vs. Cosmetic itemsUseful items: Cosmetic items:Both: 12. Rare tradingRare: a tradable holiday item from when Runescape was a new game, worth lots of gp 13. Official currency Vs Player asserted currencyWorth: 2.147 billion gold coins Worth: ..11 buds? 14. Currency in TF2+ =+ + =+ + =+ + =x8 = ++ + = 15. Buds for keys= $31 USD=x24= $1.49 USD$1.49 x 24 = $35.76Profit from buying buds,selling for keys, and sellingthe keys: $4.76 per bud. 16. Trading unusual hats 17. Most importantly: be persuasive &respectful 18. Idling 19. Sharking (usually done by traders with power) 20. Valve hires an economist