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Persistence The software maintains a record of the state of the world and the resource possessions of the players, regardless tcos Gold of whether or not the game is "in session" for any user.
Scarcity Users must expend "real" resources such as time and money to obtain goods and/or services in the synthetic world.
Specialization Availability to players of the resources must vary. For example, a participant whose character has metalsmithing skills could have the ability to make swords, while other players would have to purchase them. Because this results in comparative advantage, complex trade relationships and a division of labor result.
Trade Users must be able to transfer goods and services to and from other users.
Property Rights The world must record which goods and services belong to which user identity, and the code must allow that user to dispose of the good or service according to whim.
These conditions of scarcity, specialization, and comparative advantage will create an economic system with properties similar to those seen in contemporary economies. Therefore, economic theory can often be used to study these virtual worlds.