New article on Tip.it about the current inflation in Runescape. I am with the author - there is no point in denying that severe inflation is under way. I am surprised that Jagex (based on the answers from the article) chose to ignore it. Grand Exchange Market Watch Common Trade Index shows it crystal clear and that's arguably the best indicator of the Runescape market out there.
Another thing which is clear is that 76king is to be blamed for the inflation. IMHO, until 76king is there, the inflation will continue. All other solutions could only help temporarily. There gotta be a way to fix 76king, though.
As strange as it sounds, I guess I am calling for yet another PvP update, am I?
Monday, October 19, 2009
Inflation in Runescape
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11 comments:
I thoroughly agree with the author. I'm a case in point on his last comment too.
I was buying up all of the tt drops for my treasure chest in my POH. I just needed 21 items to complete this. However, they are rising so ridiculously out of reach that I'm having trouble justifying it. The price of the Zammy armour (basically full rune armour with a red trim) is now roughly the same price as full Guthans. I've also watched ranger boots rise from 6m to 11.7m since June.
If they were going to remain static, then I'd work hard and save up, but it's going up and up all of the time. Useful as investments, but you do lose the will to keep aiming for the next one.
A superb analysis and foolproof proposals.
However, I'm a little nitpicky regarding the author's closing paragraph, where he mentioned that the inflation would have the nasty side-effect of making certain big ticket items out of reach for newbies.
I think he overlooked the fact that the prices of certain items which can be produced via skilling would also be increasing as a result of inflation. That said, wouldn't these newbies then be able to earn more through skilling now, effectively nullifying the price increases of those big ticket items they're targeting?
I think the real losers here would be the older players, specifically the wealthier ones. As the gp drops in value relative to item prices, rich players with millions of coins stored up in their banks will find themselves getting progressively poorer.
Good proposals from tip.it there.
What Timothy said rings true; the money I have earned getting 99 slayer is now near worthless, and the items I could have had last year are out of my reach.
As the originator and "creator" of both the Grand Exchange Market Watch and the Common Trade Index, I'm flattered that you took the time to reference my little pet project.
Thanks.
Yes, Inflation is a huge issue right now within Runescape. I feel complete vindicated for even starting the CTI in the first place... as I deliberately designed that index explicitly to denounce most of the so-called market crashes that had supposedly happened in the past.
It is interesting that World of Warcraft is facing the opposite problem: Massive deflation. Their problem is still an abundance of coins, but more significantly they are facing a huge glut of high level items coming into the game from RWT companies. Both are kind of different sides of the same coin (to pardon the pun), and it is interesting to see how to large game development companies are taking very different approaches to set up a virtual economy.
You did an excellent analysis of the topic... I'm glad to see that folks with economics training in some degree or another is willing to make such a thoughtful and intelligent article of this nature.
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