How would you calculate the Gross Domestic Product within Runescape?

 

 

 

 

 

 

 

A recent article of the TipIt Times described a clever way to calculate the total cash available in Runescape through the usage of the High Score table. Can something be done similarly on to calculate the GDP as well?

 

 

 

 

 

 

 

Why find the GDP?

 

 

 

 

 

 

 

[qoute=wikipedia]"GDP is a measurement of economy production of a particular territory (in this case, the world of Runescape). GDP is defined as the total value of final goods and services produced within a territory during a specified period.

 

 

 

 

 

 

 

If we can find an accurate way to calculate the GDP of RS, it will serve as a better indicator to how well the RS economy is doing and gives stronger backing to discussions about inflation.

 

 

 

 

 

 

 

Components of GDP:

 

 

 

 

 

 

 

GDP measures only final goods and services, that is those goods and services that are consumed by their final user, and not used as an input into other goods. Measuring intermediate goods and services would lead to double counting of economic activity within a country.

 

 

 

 

 

 

 

in context of runescape, this means that while food bought from a fisherman (that's eaten later on) counts towards GDP, but dragon leather does not.

 

 

 

 

 

 

 

 

 

 

 

This is where I am stuck at. How should the GDP be calculated? Should we based on the approach similar to that of total cash, using the high score as base? If so, which skill to include? To exclude? How do we convert the experience points into gp? Morever, GDP is calculated over a time period. How long should each cycle be? How do we measure how much experience (thus gp) has the economy generated?

 

 

 

 

 

 

 

 

 

 

 

May I have some help?

Sounds all rather complex to me, i just always thought of GDP as a way to compare different economies of different places and stuff. I wouldnt be surprised if jagex actually do have a count of all the geepees currently floating freely in the game, along with some values attached to all the items(high alc/store values), and can actually see how much is in the entire game. Although, i imagine this'd take one huuuge calculation, bit of a drain on the ol computees.

This was one of the very first Tip It. Times articles, if I recall correctly.

 

 

 

 

 

 

 

Well, for one, you take all the money skills:

 

 

 

 

 

 

 

Runecrafting

 

 

 

Smithing

 

 

 

Mining

 

 

 

Fishing

 

 

 

Woodcutting

 

 

 

Theiving

 

 

 

Farming

 

 

 

Fletching (Which is woodcutting, crafting, and runecrafting all in one)

 

 

 

Crafting

 

 

 

Herblore

 

 

 

 

 

 

 

Then, you find the total exp all the players in Runescape have in that total. This is were the guess-work comes in. You basically take that amount of exp and try to figure out how much money could be achieved in that amount of exp assuming it was all gained by using the highest means of profit available.

 

 

 

 

 

 

 

Anyways, then you need to factor in that people buy things from shops, sell things to shops, get things as monster drops, and most importantly: DIE.

 

 

 

 

 

 

 

Yes, every time a person dies and no one's around to pick up their loot, the economy can lose a fairly large amount of money. I have known people to die with phats, and no one was around to pick them up. Can you imagine how much money we have lost, just due to simple things like this?

 

 

 

 

 

 

 

In my personal opinion, finding the total amount of gp in circulation is quite impossible. Anyone who claims to be able to do it "and almost be sure they know" is quite insane. No one will EVER know the total gp in circulation because that number changes extremely every single second the game is played. Quite impossible to calcuclate, but I would assume you MIGHT be able to get within the 1-10billion range of it...but I do doubt.

PM Jagex and ask for a list of every tradable item in the game, and you might get lucky and recieve one. Then add up the prices, theres your GDP, which is innaccurate since 60 million gp probably game into the economy while you waited.

PM Jagex and ask for a list of every tradable item in the game, and you might get lucky and recieve one. Then add up the prices, theres your GDP, which is innaccurate since 60 million gp probably game into the economy while you waited.

 

 

 

 

 

 

 

Yep...exactly my point. :lol:

Wow, sounds like a really boring job. However, if you calculate a figure, please post it :)

 

 

 

 

 

 

 

lpinkus

I think there's some misunderstanding on what the GDP means.

 

 

 

 

 

 

 

 

 

 

 

PM Jagex and ask for a list of every tradable item in the game, and you might get lucky and recieve one. Then add up the prices, theres your GDP, which is innaccurate since 60 million gp probably game into the economy while you waited.

 

 

 

 

 

 

 

That will give the total capital of runescape, which is different than GDP. GDP is a measurement of how much products are produced over a time period, like a week, or a year. Using the total experience or items within game will just give the total product throughout the entire game's history.

 

 

 

 

 

 

 

 

 

 

Runecrafting

 

 

 

Smithing

 

 

 

Mining

 

 

 

Fishing

 

 

 

Woodcutting

 

 

 

Theiving

 

 

 

Farming

 

 

 

Fletching (Which is woodcutting, crafting, and runecrafting all in one)

 

 

 

Crafting

 

 

 

Herblore

 

 

 

 

 

 

 

 

 

 

Woodcutting and mining would not count towards the GDP because they're intermediate goods, ie. they are made into bows and armor/weapons. Similarly, nature runes will also not count towards GDP because it's consumed as part of making a raw into a final product (such as magic bow into money).

ever thought of just...

 

 

 

 

 

 

 

Total coins in RS / Total people activly playing (logging in once a month)