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  1. #21
    IncGamers Member
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    They\'re never going to fix the games itemization to invalidate the auction house are they? I think it\'s time we gave up hope for the expansion...

  2. #22
    Administrator Flux's Avatar
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    Curious about where the market has gone lately, I checked out my P81 softcore Monk today, who I hadn\'t played in about 2.5 months since I\'ve been doing only HC since then. Spent 15m LOLing at the deflation.

    Every item I had on could be replaced for 1/3 or less than it cost me initially, and I bought most of them in Feb/March as I was leveling and upgrading the character heavily at that time. Lacunis, Ice Climbers, Echoing Fury, Inna\'s pants/chest, etc. All the stuff my monk is wearing, most of which cost me 40-50m per slot, are available today for 5-10m. Or less.

    I was tempted to do some upgrading even though I don\'t play the char anymore, just since I could have done it so cheaply. Same items, better stats, far less than they cost me 2 or 3 months ago. And I\'m not even including crafting, since the mats are virtually free in softcore (ToS for 450g, while they\'re 11k in HC) and I could have greatly improved my Monk\'s wrists/gloves/shoulders for a few million total.

    That, plus the fact that RMAH gold is now a fraction what it used to cost, makes it ridiculously cheap to gear up a quite powerful character. Anyone coming back to D3 today after some months away, or starting up fresh, could immediately vault up to MP5+ farming for less than the price of a decent restaurant dinner.

  3. #23
    Administrator Flux's Avatar
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    There are a lot of ways that the parallels don\'t quite work, but I wasn\'t doing a whole article on it and it\'s been too many years since I did Econ 101 for me to bother. The replacement and wear/tear issue is a big one, which I did briefly mention in the post. Hardcore is a bit more like real life in that things are consumed by use (when you die) but in softcore everything lasts forever, and can be resold like new at any time.

    This greatly changes the demand side of the graph, since players don\'t *need* to replace gear. Most of us do since it\'s fun to upgrade, but it\'s not like real life where people buy new clothes, cars, handbags, etc, all the time, both for fashion and function, and then simply give away or throw away their old stuff, or sell it for a fraction the new price, since it doesn\'t hold much/any resale value.

    Gear in D3 is forever like new, and by the hyper inflation model described in the article, it should in fact increase in value.

  4. #24
    biaxin34
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  5. #25
    Administrator Flux's Avatar
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    I mostly agree, but my comment about the article was that it was mis-comparing D3 to real life by acting as though players were only accumulating gold via finding it, and not ever finding/creating the items themselves. The article was actually perfectly accurate... to a gold farmer. If all you create in D3 is gold, then you see a model of hyperinflation as the more gold you produce the less it\'s worth.

    I think impressions of hyper inflation and feelings of poverty in D3 are almost entirely based on \"keeping up with the Joneses\" as I linked in the post. In real life if you only compare your wealth and possessions to Bill Gates or to lottery winners, and hate driving any car but a million dollar Ferrari, you\'re going to be unhappy and feel poor. Some people do, and are, but most of us set more realistic goals. Perhaps the issue is that in D3, we all want to hit the lottery and have the super highest quality gear, and anything less feels like a failure.

    As I said in a reply further down, I looked today at my softcore Monk\'s gear, which I was happy with and had spent 30-50m per slot on 3 months ago, and saw that I could upgrade every single piece, literally using the same legendary with much better stats, for ~5m per slot. So does that make me happy that I can improve for cheap? Or does that make me unhappy that my current gear has lost so much value?

    That\'s a question for psychology, not economics, but in neither case does it hint at hyperinflation, which exists in D3, if at all, only on the highest end gear. (Or for gold farmers.)

  6. #26
    Brandon
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    I was only responding to your assessment that deflation was more of a concern than inflation. I actually don\'t know if that\'s true or not, I don\'t even play Diablo, haha, but I just thought the way you arrived at your conclusion wasn\'t quite right.

    About lack of wear and tear - that exists in the real world too. Just look at portions of the commodities market. Do you think anyone cares how old platinum or silver is? Those metals can be mined as well; the supply isn\'t static.

  7. #27
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    Re: Diablo 3 Economy: Inflation?

    D3 economy is deeply flawed by design. First of all, everybody prints their own money. There are no real world parallels to this. If money supply is infinite, all hell brakes lose. The very idea of a currency, which holds value, implies that its supply must be limited. In D3 money supply is infinite. This makes the economy totally broken. Another problem is that items never leave the system. In the real world, all items eventually breakdown and are removed from circulation. In D3, all good items remain in game forever. This makes market saturated with decent and good items, which are selling for less and less. It makes mediocre items completely worthless. At the other end of the spectrum, godly items are worth far more than 2 billion, since gold value is inflated. All in all, it's a poorly conceived system, which is completely abstract and almost totally not related to how real economy works.

  8. #28
    IncGamers Member
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    Gold hyperinflation.

    Just as Blizzard wanted it. Phase out gold, phase in RL money as the dominant D3 currency. I don't think it was an accident that the game shipped with almost zero gold sinks, and even now, the options for players in the 1-59 range are still close to zero.

    Think about it this way, 2 billion gold and $250, the caps on the GAH and RMAH, respectively. Correct me if I'm wrong, but the best of the best gold farmers can make ~1 million gold per hour. That means it would take 2,000 hours, or 83 days farming 24 hours per day, to farm gold and purchase a 2 billion gold item. Now take $250, and even earning the federal minimum wage of $7.25, you can earn $250 in less than one work week.

    Well, there haven't been too many gold sinks added in the last year, and last I checked, gold is dropping at nearly the equivalent rate since launch, AND the overall value of gold has gone down at least one order of magnitude.

    Hmmm, either Blizzard needs a kindergartener's economics education or there is something more sinister going on, like maybe Blizzard wants us to use the RMAH instead of the GAH and has designed the game to encourage us to do so. Now that's a crazy thought!

  9. #29
    IncGamers Member
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    Re: Diablo 3 Economy: Inflation?

    I don't think 1m/hour is what the best of the best pulls in. I am close to that on my Archon with no pickup radius or gold find on my gear (Plvl 44 or so).

  10. #30
    IncGamers Member
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    *gasp* A video game economy doesn\'t match a real world economy?!?!

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