Platinum Pieces down against the dollar today in light trading

This article is a good summary of why the virtual economy in MMORPGs like Everquest is actually interesting instead of just a curiousity.

"The economic dynamics of EverQuest also allow Castranova to calculate wage levels in Norrath. Take the PP value of an average avatar's skills and assets, divide it by the average number of hours required to accumulate those holdings, and an average avatar "earns" 319 PP/hour, or $3.42/hour at the prevailing exchange rate. (This doesn't sound like much, but Norrath's deflation means that "real" wages are actually rising.) Castronova estimates that Norrath's per capita GNP is higher than India's or China's." (linkrot: 503)