Dopaminomics

BBC News Parents sue Apple over in-app game charges 16 April 2012 Apple is being sued by parents who claim the iPhone-maker is unfairly profiting from in-app payments in games aimed at children.

It is interesting what $60 can buy:

1) For a traditional outright purchase, the fastest-selling PC game of all time, with 3.5 million copies sold within the first 24 hours:

Diablo III

2) For a subscription business model, the world's most popular massively multiplayer online roleplaying game, with 10.2 million subscribers as of December 2011 and new content constantly added:

 World of Warcraft, 4 months subscription

3) Almost enough FarmVille in-game currency to purchase:

Two Beach Resorts

The above is one example of a wider media trend (social networks, smartphones, etc), calling into question the utility function of (at least certain subspecies of) Homo economicus. Granted, FarmVille can be played for free and "Beach Resorts" are expensive high-end buildings aimed at extracting consumer surplus via market segmentation, so perhaps the comparison should be limited to optional premium "add-on" content.

Thus, it is interesting what $10 can buy:

1) Fallout 3 add-on: The Pitt

Adds an entire new area to explore in a game that has won multiple awards for "Best of 2008"

2) A FarmVille in-game purchase:

One Fishing Hole

...