Virtual Economies and the Real Things

How World of Warcraft informs economics offline.

1 min read

Edward Castronova, a telecommunications professor at Indiana University, is studying how virtual ecomomies might shed light on our embattled ones offline.  

I covered the underworld of online economies in a feature story for Spectrum magazine, which you can read here.

Here's one interesting nugget from Castronova's work, according to Reuters:

"After studying 314 million transactions within the fantasy world of Norrath in 'EverQuest II,' including trading in-game goods like armor, shields, leather, herbs and food, the researchers were able to calculate the GDP of one of the game servers (the back-end computer that hosts thousands of players in one world). As more people opened accounts and flocked to Norrath, spending money on new items, researchers saw inflation spike more than 50 percent in five months."

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Deep Learning Could Bring the Concert Experience Home

The century-old quest for truly realistic sound production is finally paying off

12 min read
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Image containing multiple aspects such as instruments and left and right open hands.
Stuart Bradford
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Now that recorded sound has become ubiquitous, we hardly think about it. From our smartphones, smart speakers, TVs, radios, disc players, and car sound systems, it’s an enduring and enjoyable presence in our lives. In 2017, a survey by the polling firm Nielsen suggested that some 90 percent of the U.S. population listens to music regularly and that, on average, they do so 32 hours per week.

Behind this free-flowing pleasure are enormous industries applying technology to the long-standing goal of reproducing sound with the greatest possible realism. From Edison’s phonograph and the horn speakers of the 1880s, successive generations of engineers in pursuit of this ideal invented and exploited countless technologies: triode vacuum tubes, dynamic loudspeakers, magnetic phonograph cartridges, solid-state amplifier circuits in scores of different topologies, electrostatic speakers, optical discs, stereo, and surround sound. And over the past five decades, digital technologies, like audio compression and streaming, have transformed the music industry.

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