The first quarterly report from EVE Online's very own economist has been released at the game's official site. GamesIndustry.biz has some comments from Dr. Guðmundsson on this first batch of numbers, exploring a bit of his methodology and the joys of working in EVE's closed environment: "Since life in Eve evolves at a faster pace than real life, we must use a so-called 'chained price index' rather than a representative basket. In real life, representative baskets are always used and in many cases the surveys for these baskets are done with very long time intervals. By looking at our results it is obvious how the fixed basket approach can overestimate the impact of price changes, just as predicted by theory. With consumer preferences changing faster now in real life than ever before (consumer electronics is a good example), this might be a lesson that could help us understand better changes in price levels and how we measure that outside virtual worlds."