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Measuring virtual wealth in virtual worlds
Jingzhi Guo; Zhiguo Gong
Source PublicationInformation Technology and Management

This article presents pioneering research on measuring virtual wealth in an open virtual world for diagnosing the health of virtual worlds. It proved the existence of an open virtual world by proving the existence of a free choice of virtual currencies for virtual goods between distinct virtual worlds. By discussing the features of open virtual world in a circled networked organization, the article devised a virtual wealth measuring scheme, called Gross Virtual Product (GVP), for any virtual world. Based on this scheme, it suggested an accountability matrix to account for a changing virtual world regarding its total virtual wealth, profitability, user participation and happiness. To demonstrate the suitability of GVP scheme and accountability matrix, the article has conducted a case study on SecondLife. com, which showed the appropriateness of the proposed scheme and matrix. The research made in this article is very important. The proposed measuring scheme and matrix help virtual world participants perceive the possible risks of the participated virtual worlds in advance to make better decisions on virtual business. © 2011 Springer Science+Business Media, LLC.

KeywordAccountability Case Study Gross Virtual Product Statistics Virtual Currency Virtual Economy Virtual Money Exchange Virtual Wealth Virtual World
URLView the original
Indexed BySCI
WOS Research AreaInformation Science & Library Science ; Business & Economics
WOS SubjectInformation Science & Library Science ; Management
WOS IDWOS:000291040400008
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Cited Times [WOS]:13   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
Corresponding AuthorJingzhi Guo; Zhiguo Gong
AffiliationDepartment of Computer and Information Science, Faculty of Science and Technology, University of Macau, Av. Padre Toma´s, Pereira, S.J., Taipa, Macau
First Author AffilicationFaculty of Science and Technology
Corresponding Author AffilicationFaculty of Science and Technology
Recommended Citation
GB/T 7714
Jingzhi Guo,Zhiguo Gong. Measuring virtual wealth in virtual worlds[J]. Information Technology and Management,2011,12(2):121-135.
APA Jingzhi Guo,&Zhiguo Gong.(2011).Measuring virtual wealth in virtual worlds.Information Technology and Management,12(2),121-135.
MLA Jingzhi Guo,et al."Measuring virtual wealth in virtual worlds".Information Technology and Management 12.2(2011):121-135.
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