Arbitrage And Equilibrium In The Team Fortress 2 Economy

Valve Blog: Steam enables Valve’s gamers to trade freely with one another, effectively to establish a substantial economy in which thousands of items, also imaginable as assets, are exchanged for one another. This is a typical barter economy, in that every exchange necessitates a double coincidence of wants (i.e. when Jack offers Jill some Team Fortress 2 hat in exchange for a couple of keys, the trade will go ahead if, at the same time, Jill also prefers that particular hat to her two keys).

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