Fig 1.
Price Distribution by Different Servers and Sides.
This figure illustrates average game currency prices in South Korean Won. Each bar represents an observation from a server/side. For World of Warcraft, there are six servers in our dataset and each server has two sides for a total of 12 observations. Diablo III has three servers without sides for a total of three observations.
Table 1.
Summary Statistics on Price Changes.
Table 2.
Devaluation of Currencies.
Table 3.
Game Currency Price Determinants.
Table 4.
Transaction Costs.
Fig 2.
Game Currency Prices Measured from Two Different Countries—in KRW.
The game currency prices from two different markets are plotted in this figure. We have approximately two months of sell quotes data from a U.S. based game currency dealer. The quotes are compared with the prices reported by a Korean game currency exchange. The dollar prices of the dealer are converted to South Korean Won using the corresponding exchange rates. Diablo III currency prices are from May 2012 to June 2012 and World of Warcraft currency prices are from Oct 2013 to Dec 2013.