Economic Research on Currency Exchange

[m1xaha]

Good day!

I am currently conducting an actual economic research on in-game currencies as it related to the concept of the exchange rate.

Given that the server has four (in-game dollars [$], tokens [T], head tokens [HT], and real-life dollars[USD]) currencies, I was curious to the exchange rate for the aforementioned currencies as exchanged interchangeably.

In the methodology for this research, I would be basing the base price per currency in accordance to provided information from this server. Only two conversions are provided in the server: (1) for real-life dollars, USD 5 = $ 5000 [based on the website Donation tab, although unreliable as this does not count other perks such as kit, fly, etc.] and (2) for head tokens, HT 1 = T 10 [based on the server Tokenshop conversion].

Provided that head tokens and tokens already have a set conversion, I am planning to use actual goods  sold in the token shop in game to determine the currency exchange. This is due to items in the Miscellaneous Token Shop are actually exchanged for in-game dollars although no conversion exists (I have asked people about this).

Hence, I would like to use this opportunity to conduct this research by asking you the following questions:

(1) How much would you pay for the following eggs:
- Guardian
- Zombie Pigman
- Iron Golem

(2) How much would you pay for the following goods:
- Dragon Egg
- End Frame
- Fly Coupon
- Name Tag
- Saddle

(3) How much do you think is the reasonable conversion of 1 Token [T 1] to In-game Dollars [$ ?]? Please elaborate.


Take note that this in ceteris paribus. The results will be converted simply and determined through an average of all answers.

Feel free to answer.

Thank you!

[Oplegoman]

I like this idea of doing research into this, but for this to be a true analysis of the exchange between currencies. This would be quite incomplete if you don?t factor in that some currencies are asymmetric (that it can only be traded in one direction); this can cause massive effect on the whole model and make the analysis much harder as finding a steady state would be much more complex due to the lack of reversibility of the model. I wish you best of luck with this, but I can see it being a quite complex task.

Also you would also need to take into account that money can be ?made? in the game by selling to the shop, so a secondary currency that can be reversible for everything can be time taken to get a unit of fuel.

[m1xaha]

I like this idea of doing research into this, but for this to be a true analysis of the exchange between currencies. This would be quite incomplete if you don?t factor in that some currencies are asymmetric (that it can only be traded in one direction); this can cause massive effect on the whole model and make the analysis much harder as finding a steady state would be much more complex due to the lack of reversibility of the model. I wish you best of luck with this, but I can see it being a quite complex task.

Also you would also need to take into account that money can be ?made? in the game by selling to the shop, so a secondary currency that can be reversible for everything can be time taken to get a unit of fuel.

Yes, Sir! Hence, I am only using a simplified conversion model and the methodology as ceteris paribus. That would be a research for another day!

The purpose of which is just basic token conversion!

[Rambaro]

(1) How much would you pay for the following eggs:
- Guardian (40k)
- Zombie Pigman (50k)
- Iron Golem (20K)

(2) How much would you pay for the following goods:
- Dragon Egg (25k)
- End Frame (25k)
- Fly Coupon (1000/per minute)
- Name Tag (1000)
- Saddle (100)

(3) How much do you think is the reasonable conversion of 1 Token [T 1] to In-game Dollars [$ ?]? Please elaborate.

$2500 = T1
This will be based on the value of items that can be bought by Tokens I guess. i really dont know. this is just a suggestion i lack research to actually base on.

For the items above. I base the price to their rarity, use, and my own financial capacity. a guardian farm, gives you food, xp ,and rare blocks. a Pigman farm, gives you Gold, xp, feather, chicken, and repair xp. now an Iron golem on the server will not give you the iron but will give you something else if your brave enough.

But having these farms is actually going to be redundant to have if your playing solo, cause of Public farms. Public farms will give you things for free. with no hassle on building ur own.
just to add some basis and data.