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market order workflow and fair market prices

Author
ScrapDealer
Federal Navy Academy
Gallente Federation
#1 - 2017-02-24 14:56:38 UTC  |  Edited by: ScrapDealer
Suppose you want to buy or sell 100 something for 100isk and there is 50 something for a better price for you.
If you place an order at that price you will end up paying that price.
I think this is unfair especially when you make a mistake in the price
So I suggest that when you place these types of orders, you pay the fair price that the other party is claiming.

I will try to explain it better

Suppose I want to buy 1m tritanium at 5isk and there are for sale:
250000 x 4.25isk
250000 x 4.5 isk
500000 x 4.75 isk
If I place my order I will pay 5isk to all orders
Now if I make a mistake in the price and I put 50isk becomes something even more unfair
Nat Silverguard
Aideron Robotics
#2 - 2017-02-24 15:01:11 UTC
there's no 'fair' price... prices are dictated by supply and demand

Just Add Water

Omnathious Deninard
Ministry of Silly Walks.
Parasitic Legion.
#3 - 2017-02-24 15:02:08 UTC
Why? You are putting it out there that you want an item and are willing to pay X for it, why should you be rewarded for being lazy?

If you don't follow the rules, neither will I.

Lugh Crow-Slave
#4 - 2017-02-24 15:02:52 UTC
What?


If some one is willing to deal at a lower price how is it unfair to do it at that lower price?
Cade Windstalker
#5 - 2017-02-24 15:25:48 UTC
There's nothing unfair here, if you make a mistake you make a mistake. When you put up a buy order, even if you're buying based on someone's sell order, you're putting a buy order up on the market. That buy order says "I'm willing to pay X per unit for Y units of Item Z." Why would anyone accept less than you've put up as your offer for their goods?
ScrapDealer
Federal Navy Academy
Gallente Federation
#6 - 2017-02-24 15:35:02 UTC  |  Edited by: ScrapDealer
Cade Windstalker wrote:
There's nothing unfair here, if you make a mistake you make a mistake. When you put up a buy order, even if you're buying based on someone's sell order, you're putting a buy order up on the market. That buy order says "I'm willing to pay X per unit for Y units of Item Z." Why would anyone accept less than you've put up as your offer for their goods?


Because both have accepted a fair price before.
Then you make a mistake in the price and it is unfair to pay the unfair price that the other party gets
Cade Windstalker
#7 - 2017-02-24 15:53:00 UTC
ScrapDealer wrote:
Because both have accepted a fair price before.
Then you make a mistake in the price and it is unfair to pay the unfair price that the other party gets


No, that's you making a mistake. It's in no way unfair.

This is why we double check our prices and why CCP has warnings for ridiculously high or low market orders before they're created.
Jonah Gravenstein
Machiavellian Space Bastards
#8 - 2017-02-24 16:09:28 UTC
ScrapDealer wrote:
Cade Windstalker wrote:
There's nothing unfair here, if you make a mistake you make a mistake. When you put up a buy order, even if you're buying based on someone's sell order, you're putting a buy order up on the market. That buy order says "I'm willing to pay X per unit for Y units of Item Z." Why would anyone accept less than you've put up as your offer for their goods?


Because both have accepted a fair price before.
And? You offered them more than what they were asking.

Quote:
Then you make a mistake in the price and it is unfair to pay the unfair price that the other party gets
Fair doesn't come into it, the onus is on you to check how much money you're paying.

Eve is a game where choices have consequences, you chose not to check the price you were offering, as a consequence you paid over the odds.

In the beginning there was nothing, which exploded.

New Player FAQ

Feyd's Survival Pack

Do Little
Bluenose Trading
#9 - 2017-02-24 16:20:38 UTC
Do you place any value on your time? If I am buying several million units of tritanium, I don't want to work my way through a dozen small orders. I buy from the sell order that can fill my requirement - this will scoop all the lower price orders and those players get a bonus. There is nothing accidental about this, nobody made a mistake - market is working as intended. If you do make a mistake, it should have consequences - whether you are competing on the market or the battlefield.
ScrapDealer
Federal Navy Academy
Gallente Federation
#10 - 2017-02-24 16:33:09 UTC
Do Little wrote:
Do you place any value on your time? If I am buying several million units of tritanium, I don't want to work my way through a dozen small orders. I buy from the sell order that can fill my requirement - this will scoop all the lower price orders and those players get a bonus. There is nothing accidental about this, nobody made a mistake - market is working as intended. If you do make a mistake, it should have consequences - whether you are competing on the market or the battlefield.


i paid 115.000.000 for items worth 1.150.000 i lost a lot of time
mkint
#11 - 2017-02-24 16:42:18 UTC
ScrapDealer wrote:
Do Little wrote:
Do you place any value on your time? If I am buying several million units of tritanium, I don't want to work my way through a dozen small orders. I buy from the sell order that can fill my requirement - this will scoop all the lower price orders and those players get a bonus. There is nothing accidental about this, nobody made a mistake - market is working as intended. If you do make a mistake, it should have consequences - whether you are competing on the market or the battlefield.


i paid 115.000.000 for items worth 1.150.000 i lost a lot of time

user error. Replace user. The game already says "Hey dummy! You're paying too much! Knock it off!" What else do you want it to do? Play the game for you?

fake edit: Oh. I guess that is what you're asking for.

Maxim 6. If violence wasn’t your last resort, you failed to resort to enough of it.

Rin Vocaloid2
DUST University
#12 - 2017-02-24 17:56:35 UTC
It's not hard at all to spend just an extra few seconds double checking your numbers before hitting "ACCEPT".
Quinn Hatfield
The Scope
Gallente Federation
#13 - 2017-02-24 18:19:15 UTC  |  Edited by: Quinn Hatfield
ScrapDealer wrote:


i paid 115.000.000 for items worth 1.150.000 i lost a lot of time
What did you learn from this valuable lesson?

Hint: there's more than one thing to learn here, you've made more than one mistake.

I don't burn bridges, I merely steal a bolt a day.

Zhilia Mann
Tide Way Out Productions
#14 - 2017-02-24 21:26:45 UTC
WTS 100,000,00 units fair trade veldspar at 2500 isk/unit. Ethically sourced from indigenous miners to help them set up pocket industries making frigates. Guaranteed zero carbon footprint. No artificial chemicals used during processing; we use a traditional Minmatar refining technique involving Fedo scat and natural fibers to filter impurities. No asteroids are harmed during the collection process.
Teckos Pech
Patriotic Tendencies
Goonswarm Federation
#15 - 2017-02-25 00:06:49 UTC
ScrapDealer wrote:
Suppose you want to buy or sell 100 something for 100isk and there is 50 something for a better price for you.
If you place an order at that price you will end up paying that price.
I think this is unfair especially when you make a mistake in the price
So I suggest that when you place these types of orders, you pay the fair price that the other party is claiming.

I will try to explain it better

Suppose I want to buy 1m tritanium at 5isk and there are for sale:
250000 x 4.25isk
250000 x 4.5 isk
500000 x 4.75 isk
If I place my order I will pay 5isk to all orders
Now if I make a mistake in the price and I put 50isk becomes something even more unfair


The double check your market orders before hitting "ok". It is your typo, it is your problem.

"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

ScrapDealer
Federal Navy Academy
Gallente Federation
#16 - 2017-02-25 00:19:14 UTC
Rin Vocaloid2 wrote:
It's not hard at all to spend just an extra few seconds double checking your numbers before hitting "ACCEPT".


What do you think of my proposal?
Teckos Pech
Patriotic Tendencies
Goonswarm Federation
#17 - 2017-02-25 00:36:40 UTC
ScrapDealer wrote:
Do Little wrote:
Do you place any value on your time? If I am buying several million units of tritanium, I don't want to work my way through a dozen small orders. I buy from the sell order that can fill my requirement - this will scoop all the lower price orders and those players get a bonus. There is nothing accidental about this, nobody made a mistake - market is working as intended. If you do make a mistake, it should have consequences - whether you are competing on the market or the battlefield.


i paid 115.000.000 for items worth 1.150.000 i lost a lot of time


Then don't pay that much.

"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

Teckos Pech
Patriotic Tendencies
Goonswarm Federation
#18 - 2017-02-25 00:37:27 UTC
ScrapDealer wrote:
Rin Vocaloid2 wrote:
It's not hard at all to spend just an extra few seconds double checking your numbers before hitting "ACCEPT".


What do you think of my proposal?


It is not needed since all that is required is you proof read your price entry.

"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

Lugh Crow-Slave
#19 - 2017-02-25 12:00:29 UTC
ScrapDealer wrote:

i paid 115.000.000 for items worth 1.150.000 i lost a lot of time




hahahaha

so that's what this is about


sorry EvE is not a game that protects you from being stupid