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Plex Prices

First post
Author
Buzz Orti
State War Academy
Caldari State
#1001 - 2015-10-12 01:54:08 UTC
Aoife Fraoch wrote:
Lieu Thiesant wrote:
Aoife Fraoch wrote:
Lieu Thiesant wrote:
back up to 1.176 m ISK
as posted around 21st August or mid- August
with first spikes occurring around August 26 at over 1.1m ISK.

+ Forgot to mention, until October (and I will now add , perhaps or early November).

I speculate that it will go back down below 940m ISK, as it was before the raise in value mid August.

I also speculate that it will go back up to over 1.1m ISK.


Sorry but that price is just not going to stabilise at the same level it was before unless something dramatic happens. Once you strip out the in year seasonality, it just goes up.

It will not stabilize but it will go back down and it will go back up again.


The funny thing about the plex market is that it appears, like most things here, to be a time series with multiple seasonal effects; in week and yearly. (at least when you look at daily data).

Now take that data, adjust for 7 and 365.25 cycles (have a look at tbats) and once you get the seasonal effects out you'll notice there is an upwards trend.

Where it gets interesting is with rapid changes, such as what we saw just recently. However once this noise settles, it'll return to that gentle upwards slope with a slower rate of change and some seasonal patterns.

(the data is pretty messy and frankly I would hate to try and make any serious predictions on it).

Sure but when you will see the trend change with predictions made to the same trend continuing (regardless of factors affecting the actual outcomes) there will be those taking advantage of the losses.

Builds ship in empty Quafe bottle.

Teckos Pech
Hogyoku
Goonswarm Federation
#1002 - 2015-10-12 03:16:33 UTC  |  Edited by: Teckos Pech
There is little to no seasonality in the PLEX price time series. I have downloaded the data and checked for both monthly and weekly seasonality and found none.

As for bubbles and the trend in PLEX prices....

As for bubbles, here is the thing about them...they are very, very hard to predict.

Lets suppose that some guy named Bob had found a way to predict perfectly when a bubble was about to burst. Bob would then sell short at the peak and then buy when prices dropped dramatically making a killing. How often could Bob do this? Maybe 2-4 times then everyone would know...watch Bob. As soon as Bob starts selling short....oh ****. Get out!!! Bob, to try and maintain his profit margin might sell a bit earlier...but then so would everyone else. And this logic would repeat itself all the way back to the point that the bubble started to form.

Predicting bubbles and their peak is not possible. Of course some people appear to have gotten it "right" by consistently going against the consensus, but so what? Doing that means that eventually you'd be right, but the vast majority of the time you'll be wrong. People who then think such prognosticators are some sort of genius simply help assure why bubbles are so hard to predict.

Is the current PLEX price a bubble? I don't know. Maybe. I doubt it, but then again nobody really knows.

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online

Lieu Thiesant
University of Caille
Gallente Federation
#1003 - 2015-10-12 03:29:38 UTC
pretty much yes...

And the same player driven market may have decided to bring it down for the first year.


There were zero certainty on that.


The whole scheme was just purely speculation with no way to know for sure in advance.


It was pure luck , and the factors affecting the outcome may have changed without notice.


However, it was true.


This does not mean that I had ways to change the market on my end.


It was only a prediction which did happen to materialize in the same time frame as calculated by approximation.


I had only a very small sample of the data required that affect the actual outcome and no way to change it on my end.
Aoife Fraoch
The Scope
Gallente Federation
#1004 - 2015-10-12 12:42:54 UTC
Teckos Pech wrote:
There is little to no seasonality in the PLEX price time series. I have downloaded the data and checked for both monthly and weekly seasonality and found none.

As for bubbles and the trend in PLEX prices....

As for bubbles, here is the thing about them...they are very, very hard to predict.

Lets suppose that some guy named Bob had found a way to predict perfectly when a bubble was about to burst. Bob would then sell short at the peak and then buy when prices dropped dramatically making a killing. How often could Bob do this? Maybe 2-4 times then everyone would know...watch Bob. As soon as Bob starts selling short....oh ****. Get out!!! Bob, to try and maintain his profit margin might sell a bit earlier...but then so would everyone else. And this logic would repeat itself all the way back to the point that the bubble started to form.

Predicting bubbles and their peak is not possible. Of course some people appear to have gotten it "right" by consistently going against the consensus, but so what? Doing that means that eventually you'd be right, but the vast majority of the time you'll be wrong. People who then think such prognosticators are some sort of genius simply help assure why bubbles are so hard to predict.

Is the current PLEX price a bubble? I don't know. Maybe. I doubt it, but then again nobody really knows.


There does seem to be yearly seasonality and a general upwards trend. Thanks for posting your data as well, I had a bit of a look at it. I have been meaning to do more with timeseries and it was fun playing with the forecast library.

http://rpubs.com/randomGraphs/117046
Teckos Pech
Hogyoku
Goonswarm Federation
#1005 - 2015-10-12 18:30:37 UTC
Aoife Fraoch wrote:
Teckos Pech wrote:
There is little to no seasonality in the PLEX price time series. I have downloaded the data and checked for both monthly and weekly seasonality and found none.

As for bubbles and the trend in PLEX prices....

As for bubbles, here is the thing about them...they are very, very hard to predict.

Lets suppose that some guy named Bob had found a way to predict perfectly when a bubble was about to burst. Bob would then sell short at the peak and then buy when prices dropped dramatically making a killing. How often could Bob do this? Maybe 2-4 times then everyone would know...watch Bob. As soon as Bob starts selling short....oh ****. Get out!!! Bob, to try and maintain his profit margin might sell a bit earlier...but then so would everyone else. And this logic would repeat itself all the way back to the point that the bubble started to form.

Predicting bubbles and their peak is not possible. Of course some people appear to have gotten it "right" by consistently going against the consensus, but so what? Doing that means that eventually you'd be right, but the vast majority of the time you'll be wrong. People who then think such prognosticators are some sort of genius simply help assure why bubbles are so hard to predict.

Is the current PLEX price a bubble? I don't know. Maybe. I doubt it, but then again nobody really knows.


There does seem to be yearly seasonality and a general upwards trend. Thanks for posting your data as well, I had a bit of a look at it. I have been meaning to do more with timeseries and it was fun playing with the forecast library.

http://rpubs.com/randomGraphs/117046


How many models did you fit? That just seems odd. One year high the next low. I could buy something more like a traditional seasonal patter what with school/summer etc. But a year over year fluctuation....?

And did you try including some sort of autoregressive error term? Looking at the remainder graph and your Durbin-Watson statistic (although I don't have access to my texts with the tables for the Durbin-Watson tables) might want to consider adding in an autoregressive error term.

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online

Oinola Akachi
State War Academy
Caldari State
#1006 - 2015-10-15 17:28:33 UTC
10 to 20% of not much is not much compared to 40% to 60% or more profit.

However, 10 to 20% of 1 billion is 100m to 200m per transaction , in liquid in game ISK with no other risks except bans in error.

Even 60% of 10,000 ISK is only 6,000 ISK and therefore it would take many more transaction in volume to equal the 200m or 100m to 1 b ISK profit for 5 PLEx.
Lieu Thiesant
University of Caille
Gallente Federation
#1007 - 2015-10-16 23:54:15 UTC
1.223 b ISK in Jita
1.220
1.215
2.214
Teckos Pech
Hogyoku
Goonswarm Federation
#1008 - 2015-10-18 00:37:33 UTC
So much for the bursting bubble theory. Guess whathisface is too bummed to post. Lol

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online

Aoife Fraoch
The Scope
Gallente Federation
#1009 - 2015-10-18 09:34:51 UTC
Teckos Pech wrote:
Aoife Fraoch wrote:
Teckos Pech wrote:
There is little to no seasonality in the PLEX price time series. I have downloaded the data and checked for both monthly and weekly seasonality and found none.

As for bubbles and the trend in PLEX prices....

As for bubbles, here is the thing about them...they are very, very hard to predict.

Lets suppose that some guy named Bob had found a way to predict perfectly when a bubble was about to burst. Bob would then sell short at the peak and then buy when prices dropped dramatically making a killing. How often could Bob do this? Maybe 2-4 times then everyone would know...watch Bob. As soon as Bob starts selling short....oh ****. Get out!!! Bob, to try and maintain his profit margin might sell a bit earlier...but then so would everyone else. And this logic would repeat itself all the way back to the point that the bubble started to form.

Predicting bubbles and their peak is not possible. Of course some people appear to have gotten it "right" by consistently going against the consensus, but so what? Doing that means that eventually you'd be right, but the vast majority of the time you'll be wrong. People who then think such prognosticators are some sort of genius simply help assure why bubbles are so hard to predict.

Is the current PLEX price a bubble? I don't know. Maybe. I doubt it, but then again nobody really knows.


There does seem to be yearly seasonality and a general upwards trend. Thanks for posting your data as well, I had a bit of a look at it. I have been meaning to do more with timeseries and it was fun playing with the forecast library.

http://rpubs.com/randomGraphs/117046


How many models did you fit? That just seems odd. One year high the next low. I could buy something more like a traditional seasonal patter what with school/summer etc. But a year over year fluctuation....?

And did you try including some sort of autoregressive error term? Looking at the remainder graph and your Durbin-Watson statistic (although I don't have access to my texts with the tables for the Durbin-Watson tables) might want to consider adding in an autoregressive error term.


Sorry for the delay, irl has been a little unfriendly of late. Nothing serious, just time and energy consuming.

Frankly this was just something I threw together because it looked interesting, and it did seem that when you have daily data, with some of the trending that is bound to happen around games, you would get some weird cycles turning up and there would not be just one pattern.

Personally I am templed to say that the last year has been weird and has not behaved like the previous ones. And even just mentioning being able to buy sp with plex will continue to make it odd.

The first time serious decomposition I did was using the stl function (using loess) with the seasonal window of "periodic" it takes the mean instead of smoothing per a supplied lag. The function can take a number of other parametres like a trend window and so on. I used this with a number of stated seasonal periods as well (7 and 365.25), but thats in the code.

The tbats function from the forecast library is an interesting one. For one thing it has an insanely long name (TBATS model (Exponential smoothing state space model with Box-Cox transformation, ARMA errors, Trend and Seasonal components)).

The options I had used were seasonal periods for both 7 and 365.25 on daily data with box.cox to true. If this was null then it would have used selected if they were to be used based on AIC.

trend and damped trend were not selected explicitly though damped was used. I should have included this in the original output:

> PlexAverage.tbats$parameters
$vect
[1] 1.246931e-06 8.484456e-01 8.181487e-01 -4.206490e-02 -6.835356e-07
[6] -3.498706e-04 -4.151820e-04 6.235535e-05

$control
$control$use.beta
[1] TRUE

$control$use.box.cox
[1] TRUE

$control$use.damping
[1] TRUE

$control$length.gamma
[1] 4

$control$p
[1] 0

$control$q
[1] 0

arama.errors was set true and used and fitted by AIC.

hope this answers your questions, its worth just looking at it yourself. I am relatively new to working with time series data anyway.
Lieu Thiesant
University of Caille
Gallente Federation
#1010 - 2015-10-18 20:28:48 UTC
Lieu Thiesant wrote:
#1007 - 2015-10-16 23:54:15 UTC |
1.223 b ISK in Jita
1.220
1.215
1.214

To
1.227
1.225
1.224
1.221
All 1.22
Adunh Slavy
#1011 - 2015-10-21 02:25:56 UTC
Inflation manifests rather strongly in PLEX, don't it.

Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves.  - William Pitt

Elizabeth Norn
Nornir Research
Nornir Empire
#1012 - 2015-10-21 09:28:01 UTC  |  Edited by: Elizabeth Norn
Adunh Slavy wrote:
Inflation manifests rather strongly in PLEX, don't it.


Why buy for 1.25 when others will sell for 1.15?
Lieu Thiesant
University of Caille
Gallente Federation
#1013 - 2015-10-22 22:39:04 UTC
Back down to 1.20b ISK and 1.9b ISK.
Now back down to 1.17b ISK
plus 1.76, 1.74, 1.73 and 1.71...
The depreciated deflation is what I mentioned.

Again right.
Again, as some other said it would not go back down but would only go up.


Mind you, it is still above 1.1b ISK.
Elizabeth Norn
Nornir Research
Nornir Empire
#1014 - 2015-10-22 23:36:25 UTC
20% PLEX sale causes PLEX prices to drop, and now we to go live to Lieu Thiesant who is on the scene. How's the weather, Lieu?
Lieu Thiesant
University of Caille
Gallente Federation
#1015 - 2015-10-22 23:43:29 UTC
Actually , I have to go to sleep and don't have time to login.
I'm still fixing some errors for the last 2 weeks and had to borrow funds to solve it.
Teckos Pech
Hogyoku
Goonswarm Federation
#1016 - 2015-10-24 20:16:27 UTC
Lieu Thiesant wrote:
Back down to 1.20b ISK and 1.9b ISK.
Now back down to 1.17b ISK
plus 1.76, 1.74, 1.73 and 1.71...
The depreciated deflation is what I mentioned.

Again right.
Again, as some other said it would not go back down but would only go up.


Mind you, it is still above 1.1b ISK.


And the upward trend will continue once the sale ends.

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online

Lieu Thiesant
University of Caille
Gallente Federation
#1017 - 2015-10-24 21:46:59 UTC  |  Edited by: Lieu Thiesant
Teckos Pech wrote:
And the upward trend will continue once the sale ends.

There's nothing stopping it.

On the other hand, companies amongst other things like to overcharge and always do so at the most critical moments.

Just now, during the PLEx sale, I was again overcharged for no less then $770 which limits my PLEx trading capacity.
Of course, they may fix it before the sale end, but that always leaves some bad emotions and interferes against the optimum flow.

And yes, there are other cases very similar which add to the problems and diminish my legitimate profits and potential profits.

To 1.61 and 1.55...


eve-marketdata.com :
http://eve-marketdata.com/price_check.php?step=Show&type_id=29668&region_id=&solarsystem_id=&type=history
(link code probably won't work...)

http://imgur.com/a/GrHWe


http://imgur.com/VYPOwQU
1-1w (in green)
Down last week.
1.215 to 1.125

http://imgur.com/hxuSyVu
2-1m (in yellow)
1.095 to 1.22 over 1month

http://imgur.com/dQsSPBo
3-3m (in blue)
960m ISK to 1.22 last.
I thought it went up to over 1.21 before, up to
1.29.
However, I cannot see it in this graph.

http://imgur.com/pOXEgNQ
4-6m (in yellow ochre)
1.2+ doesn't show anymore over 6 months
spread.
The graph exactitude level accuracy ratio
reduces.

http://imgur.com/YyaYyzh
5-1y (in purple)
Last Year's Results:
800m ISK to 780m ISK.
Up to 900m 1st and 2nd quarter.
Up to 950m ISK in the last quarters.
to 1.95 b ISK average in the last month.
So, over the 1.1b ISK predicted minimum increase.
Time period was targeted from end of August, Sept.
5, to October, 2015.


You can deduce the percent ratio and put them in pie charts from those numbers.
Teckos Pech
Hogyoku
Goonswarm Federation
#1018 - 2015-10-25 04:39:17 UTC
Lieu Thiesant wrote:
Teckos Pech wrote:
And the upward trend will continue once the sale ends.

There's nothing stopping it.

On the other hand, companies amongst other things like to overcharge and always do so at the most critical moments.

Just now, during the PLEx sale, I was again overcharged for no less then $770 which limits my PLEx trading capacity.
Of course, they may fix it before the sale end, but that always leaves some bad emotions and interferes against the optimum flow.

And yes, there are other cases very similar which add to the problems and diminish my legitimate profits and potential profits.

To 1.61 and 1.55...


eve-marketdata.com :
http://eve-marketdata.com/price_check.php?step=Show&type_id=29668&region_id=&solarsystem_id=&type=history
(link code probably won't work...)

http://imgur.com/a/GrHWe


http://imgur.com/VYPOwQU
1-1w (in green)
Down last week.
1.215 to 1.125

http://imgur.com/hxuSyVu
2-1m (in yellow)
1.095 to 1.22 over 1month

http://imgur.com/dQsSPBo
3-3m (in blue)
960m ISK to 1.22 last.
I thought it went up to over 1.21 before, up to
1.29.
However, I cannot see it in this graph.

http://imgur.com/pOXEgNQ
4-6m (in yellow ochre)
1.2+ doesn't show anymore over 6 months
spread.
The graph exactitude level accuracy ratio
reduces.

http://imgur.com/YyaYyzh
5-1y (in purple)
Last Year's Results:
800m ISK to 780m ISK.
Up to 900m 1st and 2nd quarter.
Up to 950m ISK in the last quarters.
to 1.95 b ISK average in the last month.
So, over the 1.1b ISK predicted minimum increase.
Time period was targeted from end of August, Sept.
5, to October, 2015.


You can deduce the percent ratio and put them in pie charts from those numbers.


Whatever, a sale will reduce the OOG suppply function; which will increase in game supply and thereby decrease the in game price.

Once this sale ends the price will start it's upward trend again.

I don't care what you write this will be the case.

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online

Gadolf Agalder
Sebiestor Tribe
Minmatar Republic
#1019 - 2015-10-25 18:24:11 UTC  |  Edited by: Gadolf Agalder
Teckos Pech wrote:
Whatever, a sale will reduce the OOG suppply function; which will increase in game supply and thereby decrease the in game price.

Once this sale ends the price will start it's upward trend again.

I don't care what you write this will be the case.
Once the upward trrend reach levels which are higher than normal or,
that are higher than the player base or factors influencing it's behavior would normally affect it,
then, the upward trend will diminish.
Or at least, it could.

It may go back up again, after it diminishes.
It is possible that it went higher than before and by a higher percentage this time around.

It's behavior may still change and there is not enough brick and mortar to dictate it's outcome as a rigid stable trend.

There are other possible outcomes.


I will calculate the percentages at which the rates were affected.
It will give insight into the past and present trends.

However, it will not guarantee any valid future speculations.
It may make it easier, but that is besides the point.


It could go back up, but by how much, and when, and for how long?
Also, what will be the percent of profit for current or pre-planned investments?


Edit:
There is also an error in the last graph stating 1.95 b ISK when it would clearly be 1.095 b ISK.
1.29 b ISK being the highest level recorded...
Teckos Pech
Hogyoku
Goonswarm Federation
#1020 - 2015-10-26 02:24:24 UTC
Gadolf Agalder wrote:
Teckos Pech wrote:
Whatever, a sale will reduce the OOG suppply function; which will increase in game supply and thereby decrease the in game price.

Once this sale ends the price will start it's upward trend again.

I don't care what you write this will be the case.
Once the upward trrend reach levels which are higher than normal or,
that are higher than the player base or factors influencing it's behavior would normally affect it,
then, the upward trend will diminish.
Or at least, it could.

It may go back up again, after it diminishes.
It is possible that it went higher than before and by a higher percentage this time around.

It's behavior may still change and there is not enough brick and mortar to dictate it's outcome as a rigid stable trend.

There are other possible outcomes.


I will calculate the percentages at which the rates were affected.
It will give insight into the past and present trends.

However, it will not guarantee any valid future speculations.
It may make it easier, but that is besides the point.


It could go back up, but by how much, and when, and for how long?
Also, what will be the percent of profit for current or pre-planned investments?


Edit:
There is also an error in the last graph stating 1.95 b ISK when it would clearly be 1.095 b ISK.
1.29 b ISK being the highest level recorded...


What is "higher than normal"? PLEX prices have been trending generally upward for the better part of a 6 years. And as CCP links PLEX to more and more things the price will only go up.

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online