Whilst I'm not qualified to comment on the science, I can certainly agree with the conclusion. In Diablo 2, the hunt for loot was part of feeling the "hero" - keep digging for treasure, keep dismembering those skeletons; somewhere, there's that Epic Item with which you can win the day!
I've played Diablo 3 through to "Hell" difficulty, and I've not been using my own looted gear since the middle of the "Normal" mode - there's just no competition between drops, and what you can buy on the AH for very little money. The "sensible" play style is just to farm gold, and buy AH kit. Found an item? Sell it for gold (or, very occasionally, AH) - don't use it!
It's hard to feel like a hero when you're popping off to Macy's every few hours to grab a new +1 Sword of Wounding. Your quest to save the world - sponsored by Nike?
I've played Diablo 3 through to "Hell" difficulty, and I've not been using my own looted gear since the middle of the "Normal" mode - there's just no competition between drops, and what you can buy on the AH for very little money. The "sensible" play style is just to farm gold, and buy AH kit. Found an item? Sell it for gold (or, very occasionally, AH) - don't use it!
It's hard to feel like a hero when you're popping off to Macy's every few hours to grab a new +1 Sword of Wounding. Your quest to save the world - sponsored by Nike?