I always like to think of using minecraft as a tool for studying and teaching economics. Even though its an infinite world, the resources are still limited within an area. People also claim that there is no room for innovation but thats not exactly true. From the game developers you get updates wich add new items and features. You can also get mods from fans that are a lot more dynamic such as industrialcraft. I wanted to know what you all think of it.
I don’t know if a video game or simulation can ever be a valid way to study economics at least in the Austrian tradition. You just can’t simulate human action and subjective value. Any insights gained from a video game experiment would only be applicable to that video game world.
It would be possible to create a simulation environment in which randomized individual characteristics (both in the artificial entities and in the players) combined with a randomly generated, organically functional, resource rich world, especially if you included needs-based AI and trade based on basic economic presuppositions. I’m considering attempting to design such an experiment, just to demonstrate the efficacy of free market principles. Multiplayer would be a must, of course. Emphasis on realism as opposed to environments conducive to dogma would also be a must.