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EVE New Citizens Q&A

 
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Limit Orders, Why Not?

Author
Amelius Finx
Center for Advanced Studies
Gallente Federation
#1 - 2015-04-03 08:11:24 UTC
Manually adjusting Buy/Sell prices is tedious.

Why doesn't Eve avoid the whole 0.01 ISK race by allowing the placement of Limit Orders?

Almost any RL trading system caters for this, from securities trading, to Ebay.

It avoids the friction in the market due to the sheer impracticality of constantly monitoring orders - surely it would lead to prices reflecting value more accurately and more often? (The game would still simulate imperfect information, between regions)


I'm a total noob, so I'm sure there's a good reason, but I'd like to know what the thinking is.
Archibald Thistlewaite III
The Royal Society for the Prevention of Miners
#2 - 2015-04-03 08:26:46 UTC
You mean like this --> Link to a Market Discussion post

Its not a bad idea. But like all ideas it has its pro's and con's

User of 'Bumblefck's Luscious & Luminous Mustachio Wax'

Amelius Finx
Center for Advanced Studies
Gallente Federation
#3 - 2015-04-03 09:37:39 UTC
Hey, AT, thanks for the link!...

What some objectors on that thread regard as an 'exploit', I regard as the operation of a nearer-to-perfect market!

If the market was really too volatile, (operating in the interests of speculators,) a tax / time delay could be imposed on adjustment of orders.

Apart from a natural impulse to see the game reward intelligence over grinding, I'm also interested from a more theoretical standpoint: what are the differences between the RL and the Eve universe that make the Limit Order mechanism possible 'out there', but not 'in here' ?

Maybe a few months of experience will make that clear to me. I'm getting ahead of myself.

Learn to fly, first, Amelius Roll
gfldex
#4 - 2015-04-03 10:32:00 UTC
Amelius Finx wrote:

what are the differences between the RL and the Eve universe


In New Eden money got no price (there is no interest) and warehouses never fill up or charge a monthly fee. On Earth most trade is made with options, resulting in 90% of all goods that are traded being completely virtual (some of that may be easy to produce between the time of order and time of delivery thought). There is further a financial system that can absorb any excess liquidity (as we have observed in the last few years).

There are a few capsuleer that hold a significant proportion of liquidity without any form ob obligations to their name. Production over time is capped on quite a few raw materials. IIRC shipping on Earth is running around 1/3 of it's maximum capacity right now. New Eden puts quite a few not so soft limits on cargo shipment.

As you can see there are quite a few striking differences between New Eden and Earth. One could even say that all limitations are up side down.

I, personally, would welcome that can of worms. For some strange reason CCP is reluctant to give me what I want.

If you take all the sand out of the box, only the cat poo will remain.

Samuel Triptee
Malevelon Roe Industries
#5 - 2015-04-03 12:13:16 UTC
Limit Orders...

Just another way to avoid logging in.

Have You Hugged Your Frigate Today?

ShahFluffers
Ice Fire Warriors
#6 - 2015-04-03 21:21:28 UTC
Because market manipulation is a thing here in EVE.

Yes, it has been done.

Yes, some people have trillions of ISK.

No, some people don't need a logical or "rational" reason to do it. They just think it's funny.


Be careful what you wish for. A "pure" free market system the way many libertarians and "hot-shot" capitalists idealize is far from a benevolent or stable thing.
Amelius Finx
Center for Advanced Studies
Gallente Federation
#7 - 2015-04-03 21:26:47 UTC
Hehe...

In the end simulations are simulations, and what kind of game you get depends on what you cut out.

Sylvie and Bruno, one of Lewis Carroll's lesser known books, featured a 1:1 scale map. It was wonderfully accurate. Unfortunately it had never been unfolded... it would have covered the whole country....
Lost Greybeard
Drunken Yordles
#8 - 2015-04-04 19:53:04 UTC
The capsuleers being cackling supervillains that casually break planetary economies with their own minor interpersonal conflicts is actually 99% of the plot of Eve, "stable" is pretty much the opposite of the economy they want, at least long-term.

Care-bear markets are out there in empire 0.0 if you're worried that much about it.
voetius
Grundrisse
#9 - 2015-04-04 21:18:14 UTC

As the thread that Archie linked points out, it has it's pros and cons, I'd like it. If you feel like it's a good idea you could post in F&I about it.

Also +1 for knowing about Sylvie and Bruno though I don't recall that being very interesting, I prefered his Symbolic Logic :)
Marech Bhayanaka
Ministry of War
Amarr Empire
#10 - 2015-04-05 01:46:16 UTC
Because trading is meant to be a PVP activity.

Consider too that in a perfect market, traders make no money. The inefficiencies are why there is is profit potential.

Marech.
Cara Forelli
Caldari Colonial Defense Ministry
Templis CALSF
#11 - 2015-04-05 02:25:56 UTC
ShahFluffers wrote:
No, some people don't need a logical or "rational" reason to do it. They just think it's funny.

These people generally have a reason....profits! Or something loosely related, like removing competition for future profits.

Want to talk? Join my channel in game: House Forelli

Titan's Lament

Gully Alex Foyle
The Scope
Gallente Federation
#12 - 2015-04-05 09:01:57 UTC
EVE orders are already limit orders, this wouldn't change a thing.

If, say, the other dude had a limit sell order cheaper than yours, what would you do?

Yeah, you guessed it: 0, 01 ISK his limit order.

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