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Market orders... not rewarding the market bots....

Author
Nura Taron
Doomheim
#41 - 2012-04-10 23:07:03 UTC  |  Edited by: Nura Taron
And I'm still waiting for someone to tell me why having a choice of who I buy from will magically make prices skyrocket with an explanation that isn't just a long-winded version of "just because".
Tippia
Sunshine and Lollipops
#42 - 2012-04-10 23:08:44 UTC
Nura Taron wrote:
And I'm still waiting for someone to tell me why having a choice of who I buy from will magically make prices skyrocket with an explanation that isn't just a long-winded version of "just because".
I just did: because it removes the mechanism that absolutely forces prices towards the mean and makes the market much less efficient in moving in that direction.
J3ssica Alba
Federal Navy Academy
Gallente Federation
#43 - 2012-04-10 23:10:59 UTC
Spy 21 wrote:
Bot or no bot I hate the .01 ISK undercutters... if you wanna be the cheapest than knock out the next guy by being 1 mil cheaper :).. so to me, they are all just BOTS!

Again... an old resentment.

More of a personal problem there... but the reason I post is I really did think I got the order I clicked on, not simply whoever did the last 0.01 ISK drop.

S


If all the sellers dropped by a million the bottom would pretty much fall out of the market, there would be no point in even trying to sell stuff. I do the 0.01 isk thing sometimes and even then if I see a price going to low I just wait for the lowest orders to be bought up before putting my items in at a higher price. While I'm sure there are bots, the 0.01 isk thing is a way of trading by real people.
This is my signature. There are many others like it, but this one is mine.  Without me, my signature is useless. Without my signature, I am useless
Nura Taron
Doomheim
#44 - 2012-04-10 23:11:16 UTC
Tippia wrote:
Nura Taron wrote:
And I'm still waiting for someone to tell me why having a choice of who I buy from will magically make prices skyrocket with an explanation that isn't just a long-winded version of "just because".
I just did: because it removes the mechanism that absolutely forces prices towards the mean and makes the market much less efficient in moving in that direction.

No it doesn't. Competition already does that. What you told me was "It just will. Because I said so!".
Richard Hammond II
Doomheim
#45 - 2012-04-10 23:14:28 UTC
Tippia wrote:
Richard Hammond II wrote:
Yeah that doesnt make sense to me either
That's because you're thinking supermarket rather than brokerage firm. It makes perfect sense if you change your point of comparison. Blink



Id have to understand brokerage firm first and I dont

Goons; infiltration at its best - first bob... now ccp itself. They dont realize you guys dot take this as "just a game". Bring it down guys, we're rooting for you.

Argyle Jones
Brutor Tribe
Minmatar Republic
#46 - 2012-04-10 23:15:06 UTC  |  Edited by: Argyle Jones
Spy 21 wrote:
Bot or no bot I hate the .01 ISK undercutters... if you wanna be the cheapest than knock out the next guy by being 1 mil cheaper :).. so to me, they are all just BOTS!


I'm on the completely opposite end of this argument. If people undercut my order I actually prefer that they do so by 0.1 ISK. When you undercut my order by any significant amount you lower the whole selling market for that item and cause every other seller to either lose ISK or to have to wait for your order to be bought out.

That, and if you undercut by a large enough margin, someone will simply buy your order and put it up for resale immediately.

So please undercut me by as small an amount as possible. P

/Yargle
J3ssica Alba
Federal Navy Academy
Gallente Federation
#47 - 2012-04-10 23:15:12 UTC
Nura Taron wrote:
. If someone charges $7 for a pack of Marlboros almost nobody is going to buy from them until they lower the price.


In this case I would raise the price of the cancer sticks =)
This is my signature. There are many others like it, but this one is mine.  Without me, my signature is useless. Without my signature, I am useless
Nura Taron
Doomheim
#48 - 2012-04-10 23:18:34 UTC
Richard Hammond II wrote:
Tippia wrote:
Richard Hammond II wrote:
Yeah that doesnt make sense to me either
That's because you're thinking supermarket rather than brokerage firm. It makes perfect sense if you change your point of comparison. Blink



Id have to understand brokerage firm first and I dont

Don't worry, even brokers don't.
Miss Whippy
Native Freshfood
Minmatar Republic
#49 - 2012-04-10 23:20:45 UTC
I sell a huge amount of stuff on the market, and I ALWAYS undercut by just 0.01 ISK. I COULD undercut by a lot more, but then someone else would STILL undercut by a lot more. We need to sell our stock one way or another, and morinically undercutting by huge amounts just decreases everyone's profit. Sure you can buy the 10th cheapest if you like, but the large majority of players buy off me because I'm at the top of list in order of 'Cheapest First'.

It's caviler morons who like to undercut by huge amounts that cause the problems, they're not just harming their own profits, but everyone else's too. But alas, there are a few who will always undercut me by a million while I continue to undercut them by 0.01 ISK. Many do quickly learn that they can't win by making stupid cuts though, as they realise they will still get undercut again as soon as the other trader notices.

Market bots ruin all of this of course. But people who think undercutting bots by more than 0.01 is somehow going to fool them seem to be particularly delusional.

[URL="https://forums.eveonline.com/default.aspx?g=posts&t=82348"]UI Iteration isn't enough, we need to start from scratch[/URL]

Tippia
Sunshine and Lollipops
#50 - 2012-04-10 23:25:06 UTC  |  Edited by: Tippia
Nura Taron wrote:
No it doesn't. Competition already does that. What you told me was "It just will. Because I said so!".
No, I said that it won't be as efficient, and it's efficiency that's the goal.

Competition will do that, to some extent, but it doesn't remove the mechanism that ensures that the highest buy/lowest sell gets the goods, which opens up for consumer stupidity and other inefficiencies. The whole system is set up to remove those inefficiencies. Competition only encourages a movement towards the right price — it doesn't absolutely force it the way this system does.


Again, you need to change perspectives. You're not Joe Q. Public looking for Brand X or Station Y fuel for your car/heater/light aircraft, paying by the litre what's posted on the pump — you're ChemCorp Global looking for 80 bajillion barrels of crude oil at a cost of 800 bajillion ISK for the lot, to fill your cracking, reselling, stockpiling, and plastics manufacturing needs. As long as you get the require amount at the required price, the exact derrick it comes from is ridiculously irrelevant to your business — going into that level of detail and micro-management will only distract you from your real business and cause you to lose money. You're not in the business of comparison-shopping — that's what the brokerage firm is for — you're just asking them to fulfil your needs so you can get on with your business.

…now, if we could only move on from having a spot market and onto having a futures and derivatives market, the real fun could begin. Twisted
JamesCLK
#51 - 2012-04-10 23:42:34 UTC
On a related note, the Contract system is actually a lot closer to the supermarket analogy than the open market is.

-- -.-- / -.-. .-.. --- -. . / .. ... / - --- --- / . -..- .--. . -. ... .. ...- . / - --- / ..- -. -.. --- -.-. -.- / ... - --- .--. / .--. .-.. . .- ... . / ... . -. -.. / .... . .-.. .--. / ... - --- .--.

Nura Taron
Doomheim
#52 - 2012-04-10 23:45:39 UTC  |  Edited by: Nura Taron
Tippia wrote:
Nura Taron wrote:
No it doesn't. Competition already does that. What you told me was "It just will. Because I said so!".
No, I said that it won't be as efficient, and it's efficiency that's the goal.

Competition will do that, to some extent, but it doesn't remove the mechanism that ensures that the highest buy/lowest sell gets the goods, which opens up for consumer stupidity and other inefficiencies. The whole system is set up to remove those inefficiencies. Competition only encourages a movement towards the right price — it doesn't absolutely force it the way this system does.


Again, you need to change perspectives. You're not Joe Q. Public looking for Brand X or Station Y fuel for your car/heater/light aircraft, paying by the litre what's posted on the pump — you're ChemCorp Global looking for 80 bajillion barrels of crude oil at a cost of 800 bajillion ISK for the lot, to fill your cracking, reselling, stockpiling, and plastics manufacturing needs. As long as you get the require amount at the required price, the exact derrick it comes from is ridiculously irrelevant to your business — going into that level of detail and micro-management will only distract you from your real business and cause you to lose money. You're not in the business of comparison-shopping — that's what the brokerage firm is for — you're just asking them to fulfil your needs so you can get on with your business.

…now, if we could only move on from having a spot market and onto having a futures and derivatives market, the real fun could begin. Twisted

I fail to see why I should care if the inevitable happens slightly more efficiently. I am not ChemCorp Global. I am John Q. Public wandering the aisles looking for an autocannon, two skill books and an afterburner. I see an afterburner I like and put it in my cart when suddenly the shopping police jump out from behind the smartbomb shelf pointing a gun at me and forcing me to buy the wrong afterburner. How isn't it like a grocery store? I can see that there are several different companies selling the product. I can see who is selling each one. They all have a price tag. Okay, so maybe I'm not physically pushing around a gun the size of a bus in my giant shopping cart, but the experience is far closer to shopping at newegg than investing in the silver market. If I want to buy the afterburner my friend is selling instead of the one the guy who podded me two days ago is selling one penny cheaper why shouldn't I be able?

Edit: And this is supposed to be a sandbox. Why can't a corp market PvP by buying products from their allies instead of their enemies, even if it's 2% more expensive.
Souvran Star
Star Production
#53 - 2012-04-10 23:55:45 UTC
3 pages for a guy who didnt get the point of the 0.01 ISK game -.-
Tippia
Sunshine and Lollipops
#54 - 2012-04-11 00:00:02 UTC  |  Edited by: Tippia
Nura Taron wrote:
I fail to see why I should care if the inevitable happens slightly more efficiently.
Because it's not nearly as inevitable without the efficiency, and you end up paying more…

As pointed out above, look at the relative efficiency of the contracts market if you want to see what competition alone will do to prices.

Quote:
I am not ChemCorp Global. I am John Q. Public wandering the aisles looking for an autocannon, two skill books and an afterburner.
Then maybe you should go use the contract system instead, since that's more what you're looking for. Just because your volume and price point is 1 @ 150k ISK doesn't mean you're not trading on a commodity brokerage market, using commodity brokerage market rules.

Quote:
I see an afterburner I like and put it in my cart when suddenly the shopping police jump out from behind the smartbomb shelf pointing a gun at me and forcing me to buy the wrong afterburner.
No, for the simple reason that there is nothing about the afterburner to like — it's a fungible good, indistinguishable from all the other afterburners. You're simply telling your broker to go out and find one for you and deliver it to your hangar — (s)he's the one who picks one that (s)he likes (and only because it fits your buy order), puts it in the cart, pushes it through the checkout, and dumping it in your delivery post box.

No-one is forcing you to buy the wrong afterburner. You're buying exactly the afterburner you're asking for. You're getting it for exactly the price you're asking for. You're just not getting it from the factory floor you're asking for because, being a commodity market, picking a factory floor isn't relevant to your purchase.

Quote:
How isn't it like a grocery store? I can see that there are several different companies selling the product. I can see who is selling each one. They all have a price tag.
Because you're doing none of that. You can't see that there are different companies. You can't see who's selling each one. You can see that some may have different price tags, but no matter what, you're buying the exact same product. And above all: you are not the one performing the trade — your broker is.

Yes, at the nitty-gritty detail level, it may very well come from a grocery store, but since you're simply giving your shopping assistant a 150k ISK bill and telling him or her to go into town and come back with an afterburner, that detail level is completely opaque and ultimately irrelevant to you because you get exactly what you want in the end.

Now, if you really want them to add the second layer of a consumer market, where you personally can do what you want (and without the fiddly:ness of the contracts market), then go ahead… but you'll only end up paying a whole lot more for no good reason compared to using the wholesale spot market.

Quote:
And this is supposed to be a sandbox. Why can't a corp market PvP by buying products from their allies instead of their enemies, even if it's 2% more expensive.
You can. You just have to use something other than the commodity market to do so.
Drew Solaert
Aliastra
Gallente Federation
#55 - 2012-04-11 00:00:35 UTC
The way the market is set up encourages 0.01isking bot or no bot.

Sadly I'm one of those folks with day trading who updates every 20minutes or so if needed by 0.01 while mission running/mining/whateverelseitisIdoontheCQsofawithaboxoftissuesandalargetv

I lied :o

Nura Taron
Doomheim
#56 - 2012-04-11 00:04:09 UTC  |  Edited by: Nura Taron
Tippia wrote:
No, for the simple reason that there is nothing about the afterburner to like — it's a fungible good, indistinguishable from all the other afterburners.

It isn't indistinguishable from other afterburners. It's being sold by a corp I'm at war with and I would rather not pay for bigger ships for them to kill me with.

Tippia wrote:
Then maybe you should go use the contract system instead, since that's more what you're looking for.

You go take a look at the contracts and (after 10 minutes of fighting with the ****** interface) tell me how many medium afterburner 2 you managed to find that weren't attached to a ship or thrown in with a bunch of other random stuff for no apparent reason. The only individual mods people sell there is stuff that can't be sold on the market.
Tippia
Sunshine and Lollipops
#57 - 2012-04-11 00:11:26 UTC  |  Edited by: Tippia
Nura Taron wrote:
It isn't indistinguishable from other afterburners. It's being sold by a corp I'm at war with and I would rather not pay for bigger ships for them to kill me with.
…and it's indistinguishable from other afterburners because it's the exact same afterburner no mater who creates. The stats and values don't change one iota just because it's from an enemy corp. Afterburner A is afterburner A is afterburner A, irrespective of the unconnected and irrelevant factor of it coming from manufacturer X, Y, or Z.

If you want to discriminate between sellers, use the contract system. This won't make the afterburner any different (because it's still the exact same fungible, indistinguishable good), but at least you get to control the source.

Quote:
You go take a look at the contracts and (after 10 minutes of fighting with the ****** interface) tell me how many medium afterburner 2 you managed to find that weren't attached to a ship or thrown in with a bunch of other random stuff for no apparent reason.
…and why is that? Could it have anything to do with it being a less efficient market by any chance? The mechanism for discriminating between buyers and sellers is there and available to everyone, and yet no-one is using it… hmmm…


The fact remains: the market works the way it works because it makes the market that much more efficient, and efficiency is the design goal.
Nura Taron
Doomheim
#58 - 2012-04-11 00:16:26 UTC
Tippia wrote:
Could it have anything to do with it being a less efficient market by any chance?

No, it has to do with being a less efficient UI. I know this might come at a shock, but people don't like to do things the hard way unless they have to.
Tippia
Sunshine and Lollipops
#59 - 2012-04-11 00:20:20 UTC
Nura Taron wrote:
Tippia wrote:
Could it have anything to do with it being a less efficient market by any chance?
No, it has to do with being a less efficient UI. I know this might come at a shock, but people don't like to do things the hard way unless they have to.
…and apparently, the need isn't there. What you're asking for exists; it isn't being used; the reason why the market works the way it works remains the same: efficiency.
Lady Spank
Get Out Nasty Face
#60 - 2012-04-11 00:22:59 UTC
I like how you can steal farmers leeks right from under their noses and then sell them back to them and receive "honest pay for honest work".

(ಠ_ృ) ~ It Takes a Million Years to Become Diamonds So Lets Just Burn Like Coal Until the Sky's Black ~ (ಠ_ృ)