The exchange rate theory of network game currency: Based on the parity between input and total output value per unit time

This paper explored the determinants of virtual exchange rate between the virtual currency existing in the online network games and the real currency, proposed that the total investment the players put into the online network games and the total output value of virtual products and the spirit of enjoyment should be kept equilibrium, and set up the basic formation theory of virtual exchange rate based on the parity theory of input in a unit time and total output value. The major factors affecting the virtual exchange rate under the noneconomic body mode are security level of the networks, the number of virtual currency users. The determinants of virtual exchange rate under economic body of battle and upgrading mode are the average levels of the game players and the input-output ratio the players obtain in the game and the factors affecting the virtual exchange rate under economic body of the production and transaction mode are the virtual total GDP, the expected inflation rate in the game and the difference on the expected rate of return between the virtual world and reality. At last, we suggested that the game operators can adjust the level of virtual exchange rate to improve the attractiveness of the game.