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Market Mechanics, CCP raking in billions of ISK from data entry errors?

Author
Jack Arcadia
Tarn Clan
#1 - 2013-05-13 22:50:08 UTC
Can someone confirm or correct me regarding how the EVE Market works?

I'll use an example.

Item: Gizmo

Lowest Asking Price on Market: 15 Million
Highest Bid on Market: 10 Million


Using the fake data above, example one:

A sell order of 1 Gizmo for 1 ISK is placed:

Highest bid is filled for 10 Million, Seller is paid 1 ISK, CCP pockets 99,999,999 ISK, buyer still charged 10M.


A buy order is placed for 100 Million ISK:

Lowest sell order for Gizmo is filled at 15 Million and CCP pockets the 85 Million difference, buyer not given 100M



or is this correct:

A sell order of 1 Gizmo for 1 ISK is placed:

Crazy pilot that placed a bid for 1 ISK or closest to 1 ISK gets the Gizmo

A buy order is placed for 100 Million ISK

The highest buyer closet to 100 Million ISK order gets filled even though there is a 15 Million ISK bid.



The reason I ask is pretty straight forward. EVE is full of scams. They're actually encouraged. Any time another Pilot is able to scam another Pilot, it's accepted and not a bad thing.

The problem with the first example in this post, is that no other pilot is benefiting from a data entry error on the part of a Pilot, it's basically just CCP taking people's ISK for screwing up an order.

I understand EVE is a harsh world, but most of this dog eat dog approach is focused on pilot vs pilot interaction. Does CCP really feel the need to screw pilots out of their ISK? Sell a share on a market for .01 with the highest bid being $10.00, and the market gives you $10.00. Place a buy order in a market for 150.00 with the lowest ask being 15 and you get 10 shares. The market doesn't sell you one share for 150.00 and take 135.00 for themselves.

Again, I understand pilot vs pilot scams, fraud, backstabbing, etc but does CCP really need to weasel pilots out of ISK like this? I don't see any benefit for another pilot when this happens. The other pilot in this scenario doesn't get the gizmo for .01, they still pay 10M so the only benefactor is CCP taking ISK from players for typos. The focus should be on player vs player scams, and not CCP screwing over pilots.

Since another pilot doesn't benefit from this, it seems to be CCP just taking ISK and making pilots miserable. The simple solution is to fill the highest bid for an item and pay the seller the highest bid for an item sold. Obviously no one wants to sell a 100M ISK item for 1 ISK. This current system doesn't make the game "harder" between two pilots, it just makes one pilot miserable. There is no winning and losing pilot, only a losing pilot and CCP gaining tons of ISK instead of it exchanging hands between pilots. At the very least, it seems like extremely bad form on CCP's part for doing this. Some people buy PLEX for real $$. If they're going to get scammed out the ISK, it should be by another pilot, not CCP who should be a neutral as possible by doing it's best to fill orders accurately.

Also looking to be corrected if sample one above is inaccurate.
Vito Tattaglia
Deep Core Mining Inc.
Caldari State
#2 - 2013-05-13 23:36:44 UTC
Jack Arcadia
Tarn Clan
#3 - 2013-05-13 23:39:18 UTC
Vito Tattaglia wrote:
http://i2.kym-cdn.com/entries/icons/original/000/008/305/its-a-conspiracy.jpg


Useless reply.

Conspiracy has nothing to do with it. It's a matter of CCP business practice.
mechtech
Ice Liberation Army
#4 - 2013-05-13 23:49:06 UTC  |  Edited by: mechtech
"A sell order of 1 Gizmo for 1 ISK is placed:
Highest bid is filled for 10 Million, Seller is paid 1 ISK, CCP pockets 99,999,999 ISK, buyer still charged 10M."

Nope, the buyer gets it for 1 isk, CCP pockets nothing.

After thinking about it, I do think that the current system isn't ideal.

If you put a buy for 15m, quantity 100, it will eat up all lower priced sell orders and give the sellers the full 15m regardless of their (lower) ask cost. But if you put a sell for 10m after the 15m bid is up, the 15m bid doesn't send off its full price, it executes at 10m.

It seems to me that immediately matched orders should either always match for the sell price, or always match for the buy price. The way it's implemented now seems inconsistent.

Am I incorrect/missing something? Probably.
Jack Arcadia
Tarn Clan
#5 - 2013-05-14 00:02:40 UTC
mechtech wrote:
"A sell order of 1 Gizmo for 1 ISK is placed:
Highest bid is filled for 10 Million, Seller is paid 1 ISK, CCP pockets 99,999,999 ISK, buyer still charged 10M."

Nope, the buyer gets it for 1 isk, CCP pockets nothing.


I'm OK with that if that is accurate as it's another pilot benefiting from my mistake. I'm not OK with CCP pocketing the ISK as there is no need for them to do that.

I managed to screw up an order this past weekend. I can see who bought my items. I have an email sent to them in game to see if they received the items at about a 99% discount, or if they were still charged their bid price. I'm hoping they reply so I can relay the information here. It's a data entry error. You can view my transaction for the day. Loads and loads of transactions at or near the same price and then one sticks out like a soar thumb 99% below the average... an obvious entry error.

CCP already declined my petition saying that a buyer purchased my items so they can't be corrected but haven't clarified what price they charged the buying pilot.
Daniel Plain
Doomheim
#6 - 2013-05-14 00:23:35 UTC
you do realize that CCP cannot really do anything with any ISK they would "pocket"? as long as interstellar kredits are not a currency in the real world, making them vanish would only be a good thing because it would fight ingame inflation.

I should buy an Ishtar.

Jack Arcadia
Tarn Clan
#7 - 2013-05-14 00:37:07 UTC
Daniel Plain wrote:
you do realize that CCP cannot really do anything with any ISK they would "pocket"? as long as interstellar kredits are not a currency in the real world, making them vanish would only be a good thing because it would fight ingame inflation.


That's pretty obvious yes. The point is that there is no reason to not fill a sell order for 100M isk when they are going to take 100M ISK from the buyer anyway even though the seller gets 1 ISK. It's an exchange of value. CCP gets their cut no matter what with taxes and broker fees.

Why cause heartache for the seller that mistyped? If you're going to do that, let the buyer benefit, don't just wipe the ISK. As I said before, CCP is a business. They sell PLEX for real currency that converts into ISK. They have an interest in removing ISK from the game...I'd just like to see it done in a more honorable way. If they need money that bad, raise taxes and broker fees for people to see in plain sight what ISK is removed from the game. As is stands, no one knows because there's no way to track these unbalanced orders.
mechtech
Ice Liberation Army
#8 - 2013-05-14 00:46:49 UTC
Jack Arcadia wrote:
[quote=Daniel Plain]As is stands, no one knows because there's no way to track these unbalanced orders.


It will show up in his wallet at the value you entered. Test it yourself, I just did it and confirmed it.

If you enter a 1m isk sell order and there is a 5m buy up, the 5m buy will get the item for 1m isk, and it will show as 1m in the wallet.
Jack Arcadia
Tarn Clan
#9 - 2013-05-14 00:55:27 UTC  |  Edited by: Jack Arcadia
mechtech wrote:
Jack Arcadia wrote:
[quote=Daniel Plain]As is stands, no one knows because there's no way to track these unbalanced orders.


It will show up in his wallet at the value you entered. Test it yourself, I just did it and confirmed it.

If you enter a 1m isk sell order and there is a 5m buy up, the 5m buy will get the item for 1m isk, and it will show as 1m in the wallet.


Thanks for testing it! That eliminates many of the concerns in my first post. A player benefited from my mistake which is how it should be...well ideally my order should have filled at the highest bid price like most markets operate regardless of the sell price entered.
RubyPorto
RubysRhymes
#10 - 2013-05-14 02:07:56 UTC
Jack Arcadia wrote:
Thanks for testing it! That eliminates many of the concerns in my first post. A player benefited from my mistake which is how it should be...well ideally my order should have filled at the highest bid price like most markets operate regardless of the sell price entered.


Your order fills at the price you bid when it can be filled immediately. If you want to follow the bids up to your (assumedly larger) order volume, make the extra clicks.

Similarly on sell orders. When your order can be filled immediately, it sells at the price you ask.

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." -Abrazzar "the risk of having your day ruined by other people is the cornerstone with which EVE was built" -CCP Solomon

Ave Kathrina
My Ass Is On Fire
#11 - 2013-05-14 06:45:53 UTC
Those greedy pigs at CCP are growing phat on the sea of ISK they skim from the market.

Just a few months ago I heard they were manipulating the price of PLEX by taking them from the accounts of banned players!

Its bullshyte, how come they get all that free ISK and we have to work for it?????
I've done some really stupid shit in this game.
Rhivre
TarNec
Invisible Exchequer
#12 - 2013-05-14 07:00:56 UTC
Basically,

When I have a buy order, I say "I will pay maximum 1m isk for this"

If you then come along and say "Would you like it for 10 isk?" I say "Of course, thank you very much"


When I have a sell order, I say "I will not accept less than 1m isk for this"

If you come along and say "Hey, I really like that, can I buy it for 100m isk?", then who am I to refuse such a generous offer, so of course, I accept 100m isk.

CCP just pockets the broker and sales fees.
0Lona 0ltor
Adeptio Gloriae
#13 - 2013-05-14 11:12:11 UTC
Let me put it in the simplist form.

If a seller called Adam lists 3 units (eg. 10mn afterburner) for 100k Isk and a seller called Brian lists the same type of 3 units (eg. 10mn afterburner) for 200k ISK and a buyer called Carolina enters a buy order for 5 units of 10mn afterburner at a buy price of 500k isk then the 5 lowest priced units below 500k will be cleared with each seller getting the full 500k per unit minus sales tax & brokers fee's.

Adam would get 1.5m ISK for selling 3 units.
Brian would get 1m ISK for selling 2 units with 1 unit remaining on market at 200k ISK (which will now be the cheapest sell order).

Carolina would spend 2.5m + brokers/tax and would now have 5 units of 10mn ab.

People are willing to spend more than advertised sell price to aquire units when bulk buying to prevent having to buy many buy orders individualy.
Rakshasa Taisab
Sane Industries Inc.
#14 - 2013-05-14 11:42:55 UTC
You are completely correct, it's a big conspiracy.

They use the stolen ISK to feed their snow rabbit racing debts.

Nyan

Jack Arcadia
Tarn Clan
#15 - 2013-05-14 14:36:55 UTC
Thanks to those replying that clarified how the market system works.

With the number of digits involved with EVE sales, I feel it would be helpful to treat sales like the stock market where the highest bid fills at the bid price when any sell order at or below that price is entered. It seems unduly harsh to take away a day's work (or even months of work or potentially months of earned ISK) on a simple typo when dealing with hundreds of transactions. It seems more logical to do it that way. When there are so many other ways to be scammed, Pod'd, and make bad decisions to cause tears, clear data entry errors 99% below market value don't really seem needed to cause more heartache that doesn't add very positive game memories. Hell, I lost a Proteus the other day and was impressed with how the other pilots got me. That kind of loss is more meaningful.
Babyface Eighteen
School of Applied Knowledge
Caldari State
#16 - 2013-05-14 14:54:04 UTC
Nothing in this thread makes any sense.

To make it short. Only isk that goes to "CCP" is sales tax and brokers fee. CCP is representet ingame through various NPC corps.
Minerva Achaea
Entropic Doom
#17 - 2013-05-14 20:45:03 UTC
Jack Arcadia wrote:
Can someone confirm or correct me regarding how the EVE Market works?
Also looking to be corrected if sample one above is inaccurate.


No, the extra goes to the person with the existing order... but it would make a nice isk sink if it worked like you thought (meaning missions could pay more, fees could be less).

Entropic Dooom: get paid to kill people! Revenue paid out weighted by destruction. Guaranteed 100M isk total weekly payout. https://forums.eveonline.com/default.aspx?g=posts&m=3108383

Ryelek d'Entari
Horizon Glare
#18 - 2013-05-15 00:10:59 UTC
Jack Arcadia wrote:


... clear data entry errors 99% below market value ...



There's a warning message if you try to buy something for more than 100% of average market value or sell it for less than (50%?) of average market value. This covers all cases of too many/few digit entry typos.

If you disabled this warning message then shrug/PEBCAK. It can be re-enabled somewhere in the game options.

The market interface will quite happily sell or buy the item for exactly the amount you enter. It will not attempt to guess what you "meant".
RubyPorto
RubysRhymes
#19 - 2013-05-15 01:18:49 UTC  |  Edited by: RubyPorto
Jack Arcadia wrote:
Thanks to those replying that clarified how the market system works.

With the number of digits involved with EVE sales, I feel it would be helpful to treat sales like the stock market where the highest bid fills at the bid price when any sell order at or below that price is entered. It seems unduly harsh to take away a day's work (or even months of work or potentially months of earned ISK) on a simple typo when dealing with hundreds of transactions. It seems more logical to do it that way. When there are so many other ways to be scammed, Pod'd, and make bad decisions to cause tears, clear data entry errors 99% below market value don't really seem needed to cause more heartache that doesn't add very positive game memories. Hell, I lost a Proteus the other day and was impressed with how the other pilots got me. That kind of loss is more meaningful.



You mean protecting you from mistakes like this?

There's also a popup that asks if you're sure when you order something for far above or below the average clearing price.


Your broker sees if anyone is willing to sell/buy the item at the price you're willing to buy/sell the item. If they are, the order clears at the price you set. If not, the broker waits until another broker contacts him about your bid/ask.

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." -Abrazzar "the risk of having your day ruined by other people is the cornerstone with which EVE was built" -CCP Solomon

Adunh Slavy
#20 - 2013-05-15 02:12:14 UTC
Why are we paying brokers to do anything? This market interface glitch is crappy, end of story. Stroke your e-peen with bad bullet proofing? LOL

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

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