Article: In a virtual world you can buy anything ... even dung.(News)

BYLINE: Alex Pham

Los Angeles: Why do people pay real money for virtual items?

This is a question that has intrigued Vili Lehdonvirta for years. A researcher at the Helsinki Institute for Information Technology in Finland, Lehdonvirta approaches the market for virtual goods the way economists study the market for copper or clothing.

He estimates that people spent $2.1 billion on virtual items, including all manner of weapons and fantasy outfits for their virtual avatars in 2006 (the most recent year for which he compiled stats).

Some of the more unusual items include virtual horse manure and coloured "contact lenses" for avatars.

Lehdonvirta is an advisory ...

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