1 (edited by Gremrod 2013-02-14 21:02:09)

Topic: The failings of a free market

I would like to discuss the current market or lack of a market in game and some other fine details.

@DEVS,

The market needs fixing/help. I would like to highlight some things I think are an issue that can help.

@Community, please add to this thread MARKET related discussions that you feel conflicts with or affects the games’ market.

Right now two things are causing issues for the market. Low player population and internal corp markets. Low player population is something that can only be HELPED with addressing many issues (Everything is entwined, fixing only one issue doesn’t fix the low population).

But I digress.  The internal market feature is just plain bad for a low population game. Let the corps keep their internal markets but let them set two different prices (internal price and a public price).

Lets move on.

A while back everyone agreed the market needed to be seeded with basic T1/standard items, me included. It was done and all rejoiced! but lets look at one of those items that are now seeded on the market and see if it makes sense.

The T1 standard Lightweight Frame (LWF).

NPC Sell Price: 138K+
Player Sell Price: Ranges from 22k+ to 44k+

If we use the LWF base commodity requirements and then use the market commodity prices a LWF is worth 28k+.

So why are the npc sell orders for this basic item 5x+ more than what they are really worth?

This is only one item I checked last night. I am guessing I would find the same for all or some of the other seeded items.

Lets look at something that is missing for setting base prices in a virtual market.

Raw materials have npc buy orders; which in turn, sets a base price for them. Good start, but there are no npc buy orders for commodities. NPC buy orders need to be in place to set a base price for commodities. These prices set a continuing base that trickles to setting an items base price.

Once this is done and all commodities have a base price the seeded items should reflect prices based on them.

The overall experience for a new player, when it comes to NIC value and spending it will seem better balanced.

John 3:16 - Timothy 2:23

2 (edited by Celebro 2013-02-14 21:26:23)

Re: The failings of a free market

Seeded items are set very high so that players can easily set a better price and for some players not to recycle seeded items and get cheap commodities

Trading commodities is useless anyways, refining raw materials does NOT lower the volume. Value of commodities can be calculated using raw materials prices anyways. Btw only titan and HDT has a npc buy order. Im not sure how seeded item can help the market.

Not enough players using the market/playing the game = no market anyways.

RIP PERPETUUM

3 (edited by Gremrod 2013-02-14 21:44:42)

Re: The failings of a free market

Celebro wrote:

Seeded items are set very high so that players can easily set a better price and for some players not to recycle seeded items and get cheap commodities

I understand that players need to set prices but there still needs to be a baseline. If the price is set high because of recycling then that is bad design. The price hike is not the answer. Balance it on the other end.

I wouldn't cause the new player with little NIC to suffer because of the bad design or method that was used to set prices.

Celebro wrote:

Trading commodities is useless anyways, refining raw materials does NOT lower the volume. Value of commodities can be calculated using raw materials prices anyways. Btw only titan and HDT has a npc buy order. Im not sure how seeded item can help the market.

Once again bad game design. Refined materials/commodities should have less volume. Seeded items help stimulate a fledgling market system and new players.

I understand that the raw can be used to calculate the refined commodities. But like you said there are only base npc prices in place on two raw materials. Once again bad design.

Celebro wrote:

Not enough players using the market/playing the game = no market anyways.

I agree.

But the issue is a lot of issues working together that can cause low population. I just happen to be talking about one of them in this thread.

John 3:16 - Timothy 2:23

Re: The failings of a free market

Internal Corp markets and the obsessive focus on Tier 4 items is another issue.  Coming into the game as a new player and earning 50 000 NIC for a ten to fifteen minute mission only to look at the market and see T2 and T3, hell any items, priced at a level which requires a few hours of grinding is hardly appealing.

Yes, it is possible to make over a million from the proceeds of a single level three mission... but what's involved in reaching level three missions?

All in all a wholescale writedown in profit margins would greatly help the game move away from the stilted level the market is keeping it at: sure I'd love to go PvP in a Vagabond... but who can afford it?  It would be nice to see a bit of the massive corp mods vaults hit the market en masse to bring universal prices down a touch... I mean the production levels the larger corps have can and will replace any losses in a very short time.  Why the dragon hoards?

Sociorum, inimicos, omnes

-:does speak for NSA on the forums:-

5 (edited by Annihilator 2013-02-14 22:24:16)

Re: The failings of a free market

Multiple factors, just listed:

  1. the item seeding is bad because its the same items as you can loot or build.

  2. the interface sucks - its more a database then a market window.

  3. everything is equal - no matter where you are, which faction you belong or which standings you have, nothing has a real influence on what you can build, so the only competition factors are extension-points, and prototyping database. a little bit there is transport of base mineral necessary

  4. ~3/4 of the items availiable ingame are of no practical use, so trading them has more of a charity factor then as source of income

  5. PvE is not designed to lose equip while doing it, so only demand is for accidental losses, PvP (which is better supported by "teamwork" production then market) and for first time equip

  6. did i mention the interface?

*Disclaimer: This post can contain strong sarcasm or cynical remarks. keep that in mind!
Whining - It's amazing how fast your trivial concerns will disappear

Re: The failings of a free market

Why buy from the market when you can simply produce it for yourself?

[18:20:30] <GLiMPSE> Chairman Of My Heart o/
CIR Complaint Form

The Imperial Grand Wizard of Justice

7 (edited by Gremrod 2013-02-14 22:28:49)

Re: The failings of a free market

Annihilator wrote:

Multiple factors, just listed:

  1. the item seeding is bad because its the same items as you can loot or build.

I don't see a problem here.

Annihilator wrote:
  1. did i mention the interface?

So what should a market window that has a database look like?

I find nothing wrong with the window, except for it lacking some more information under the rates section.

John 3:16 - Timothy 2:23

8 (edited by Gremrod 2013-02-14 22:29:09)

Re: The failings of a free market

Syndic wrote:

Why buy from the market when you can simply produce it for yourself?

It is an alternative for those that can not produce the items themselves.

But yes the market is useless for those that don't sell or don't buy. But doesn't mean there shouldn't be one.

John 3:16 - Timothy 2:23

Re: The failings of a free market

No doubt these are small details that can improve the market and all of what you say can help. It was working quite well at its max player peak during 'Eve exodus'. My solution would come from the thought of what went wrong when we had a market, not how we can improve the market right now because we don't have enough market activity or facts to see what needs to be changed now, so this is all theoretical.


=================================

The best way to make the economy work is to:

Improve solo combat PVE play with 1 account drastically ( PVE changes must do this). These new players should realise that specialising will make them loads of NIC and keep them entertained. Making them just want to buy ammo, bots and better mods for pvp/pve. Once we have the 'customers', producers, traders and gathers will see the opportunities and step in for the demand.

So from this standpoint, question is- how can we make it easier/ more entertaining for producers, traders and gatherers to supply the demands of other players?

RIP PERPETUUM

Re: The failings of a free market

If you have enough time/money, simply sub more accounts and/or use 10-20 termis trial-miners to get enough mats. It's only an alternative for people that really cannot be arsed to produce for themselves unfortunately.

CCP's in-house economist could probably tell you more why their market works.

[18:20:30] <GLiMPSE> Chairman Of My Heart o/
CIR Complaint Form

The Imperial Grand Wizard of Justice

Re: The failings of a free market

Celebro wrote:

It was working quite well at its max player peak during 'Eve exodus'. My solution would come from the thought of what went wrong when we had a market

Yes the market was okay when we had more players and seeded orders for all T1 items did not exist (I think the seeded orders for items should have existed then too). I think the other issues require another thread.

Because we know it is not just the market. It is a handful of issues that has now caused the exodus of perp players.

John 3:16 - Timothy 2:23

Re: The failings of a free market

Syndic wrote:

CCP's in-house economist could probably tell you more why their market works.

I think you hit one of the major problems. The game caters to a very grind specific set of actions that require more than one account. A majority of people will not sub more than one account for mmo games.

I know people like us do. But we are not the majority in this case.


Their in house economist was on contract for only 2 years if I recall. He is not there any more. But I am sure he trained a small group of people to watch the market.

John 3:16 - Timothy 2:23

Re: The failings of a free market

Gremrod wrote:
Syndic wrote:

Why buy from the market when you can simply produce it for yourself?

It is an alternative for those that can not produce the items themselves.

But yes the market is useless for those that don't sell or don't buy. But doesn't mean there shouldn't be one.

Well, I would say that ICE changes this.  The downside is that people are too greedy and ergo products are not attainable.

There are plenty of PvP players out there who are happy enough to run around having their bots blown up left right and centre: for this to be sustainable however they need to join a large Corporation or Power Bloc... outside of this there is no sustainable way to mantain a competative edge in PvP.  Without the backing of a large Corp these players lose access to Tier 4 equipment at a sustainable price. 

When(if) large Corps sell high tier modules on the open market they price them out of a range that is accessible to those who intend to engage in regular PvP.  The end result is, and always has been, a standoff between two or three major power blocs who run a semi-communal internal 'market'.

If you follow this to it's logical conclusion the idea of working to attain 'end game' content becomes absurd; better to join one of the uber blocs and get it all on easy street.

Sociorum, inimicos, omnes

-:does speak for NSA on the forums:-

14 (edited by Celebro 2013-02-14 23:34:08)

Re: The failings of a free market

Syndic wrote:

Why buy from the market when you can simply produce it for yourself?


Because there are many players out there like you, who don't like mining which is fine, but with no market  forces you and others with no option but to do it all yourself . With an efficient market ( competative prices) you will see at the end, that its a waste of time mining HDT , when you could be farming plasma and buying lets say HDT, 4 times as fast as actually mining it yourself just as an example. Same thing goes from -> plasma/tokens get NIC ->buy bots/modules.

RIP PERPETUUM

15 (edited by Annihilator 2013-02-15 00:01:25)

Re: The failings of a free market

Celebro wrote:
Syndic wrote:

Why buy from the market when you can simply produce it for yourself?


Because there are many players out there like you, who don't like mining which is fine, but with no market  forces you and others with no option but to do it all yourself . With an efficient market ( competative prices) you will see at the end, that its a waste of time mining HDT , when you could be farming plasma and buying lets say HDT, 4 times as fast as actually mining it yourself just as an example. Same thing goes from -> plasma/tokens get NIC ->buy bots/modules.

it doesn't mean he doesn't buy ANYTHING from the market - just there is no reason to buy EQUIP from it. Thats why the mineral market is the only one that works

and gremrod:
the inteface sucks because it doesnt show you whats there, and what the items are - even if you filter for only availiable items, the seeded ones fill the screen.
Just count the clicks you need to find/buy from market, each item in highest possible tier availiable for best price:

  • Yagel

  • 4 light em guns

  • 1 small repair module

  • 1 LWF

  • 500 small slugs

  • 1 sensor amp

  • 1 field container

  • 1 standard teleport beacon

*Disclaimer: This post can contain strong sarcasm or cynical remarks. keep that in mind!
Whining - It's amazing how fast your trivial concerns will disappear

Re: The failings of a free market

Annihilator wrote:
Celebro wrote:
Syndic wrote:

Why buy from the market when you can simply produce it for yourself?


Because there are many players out there like you, who don't like mining which is fine, but with no market  forces you and others with no option but to do it all yourself . With an efficient market ( competative prices) you will see at the end, that its a waste of time mining HDT , when you could be farming plasma and buying lets say HDT, 4 times as fast as actually mining it yourself just as an example. Same thing goes from -> plasma/tokens get NIC ->buy bots/modules.

it doesn't mean he doesn't buy ANYTHING from the market - just there is no reason to buy EQUIP from it. Thats why the mineral market is the only one that works

If that's the case dunno why he is whining about mining then. Anyways with enough players (100 lucius/purgatory) l am sure he would not have any problems getting whatever he needs at a good price and not be bothered with DIY.

RIP PERPETUUM

Re: The failings of a free market

Hey you 3 fanboys are whining about microfeatures nobody cares about since release, don't complain when I step down to the your level here and there. lol

And to boot, I've done mining on scales you couldn't dream of nevermind attempt. lol

[18:20:30] <GLiMPSE> Chairman Of My Heart o/
CIR Complaint Form

The Imperial Grand Wizard of Justice

Re: The failings of a free market

Syndic wrote:

Hey you 3 fanboys are whining about microfeatures nobody cares about since release, don't complain when I step down to the your level here and there. lol

And to boot, I've done mining on scales you couldn't dream of nevermind attempt. lol

i know, because your riv-blob dried out my minings spots everytime.
nowadays i feel kinda bad for not macromining and macrofarming npcs...

*Disclaimer: This post can contain strong sarcasm or cynical remarks. keep that in mind!
Whining - It's amazing how fast your trivial concerns will disappear

Re: The failings of a free market

Back to the topic its quite simple really;

Single toon combats can't make enough money fast enough to PVP off their PVE. Instead, they either do it themselves or join communist corporations. Demand is low. Producers get bored of playing 0,01NIC games and stop producing. Miners stop selling ore because the producers are gone, so the only way to get good mining gear is to join a communist corp.

ICE gets introduced. Suddenly everyone has a demand for NIC. However, the trainwreck already happened and it will take a long time for the pieces to gradually pick themselves up. Low population slows this down to a crawl.

Solution; balance around single-account players, remove Approach from game and let it gradually fix itself.

[18:20:30] <GLiMPSE> Chairman Of My Heart o/
CIR Complaint Form

The Imperial Grand Wizard of Justice

Re: The failings of a free market

Wow it made it to 16 posts before name calling and putting people down. I wonder why the DEVs don't want to hear from the community.

John 3:16 - Timothy 2:23

21 (edited by Merkle 2013-02-15 07:39:03)

Re: The failings of a free market

Gremrod wrote:

Wow it made it to 16 posts before name calling and putting people down. I wonder why the DEVs don't want to hear from the community.

smile

Its usually far sooner.

More people will sort this out.  Its getting there is the hard part.

Do remember that the people who decided to stay and mine and play the game, have a lot, I mean a lot of stuffz.

Those people might supply the markets at the correct timing.

The Gifter
Top  Killer 2013  - 01: 334 -- 17 -- 317  : Merkle
Top  Killer 2012  - 01: 027 -- 472 -- 445 : Merkle

Scarab Kill Count - 13

22 (edited by Jasdemi 2013-02-15 10:48:44)

Re: The failings of a free market

I'd like to pve with only one account one day.

Re: The failings of a free market

Merkle wrote:

Those people might supply the markets at the correct timing.

for charity?

*Disclaimer: This post can contain strong sarcasm or cynical remarks. keep that in mind!
Whining - It's amazing how fast your trivial concerns will disappear

24 (edited by Martha Stuart 2013-02-15 15:49:37)

Re: The failings of a free market

Syndic wrote:

Why buy from the market when you can simply produce it for yourself?

This is the heart of the problem right here.  With the Devs "Fixing" of production and destroying the production niche by allowing anyone and there mother to produce.  Why in gods name would I buy anything off of the market when I can produce it for almost free? 

When producing at a gamma facility with T3 facilities,  there is a 3% difference in material cost between my maxed out production toon, and my combat toon that has no production skills.  This one little "Fix" completely destroyed the market and screwed over every person that invested tens of thousands of EP into being a good producer.  And to add insult to injury the devs refused to refund the EP that people invested into production, basically giving the bird to every person that invested in material eff.  So thanks for that

Secondly, internal markets will always trump open markets.  Why you ask?  Because I would rather sell the mods and bots I make to corpies at cost then sell on the open market for a profit, because 1)  my corpies will use said equipment to kill our enemies and 2) I don't have to move it anywhere, they buy it where I produce it.  Also the fact that there is a max of 30 day sell orders, completely discourages me from putting anything on the market.  I produce mk1 bots in stacks of 100.  I cannot sell 100 mk1 bots in 30 days and it is a lot of work going back around and putting my sell orders back up.  I just don't care that much to do it.

Edit:  I also for got to mention, once you reach a level where you can produce your own equipment you don't need NIC anymore.  I can make over a billion NIC in less than a day running beacons.  Why do I need to sell anything?  I don't need the NIC.  I do this once a month and then buy ICE for all my accounts and still have NIC left over.  So why would I go through all the work to sell anything?

Re: The failings of a free market

Martha Stuart wrote:

stuff

thats one of the problems all together in perp - only a few of the extensions are there to "unlock" something - and if, only a few levels are necessary to "unlock" the use of a certain item.

the whole system is built for vertical progression - the dimishing return in production efficiency just made that progression replaceable with equip. while that is good, it opens up multiple progression pathes to the same goal -> there are no drawbacks on the gamma production facilities. The power consumption of the facilities there can be overcome by simply building more infinite energy reactors (no fueling neceesary)... but thats offtopic.

market extensions follow the same rule - you got taxes that are magically reduced by an extension you upgrade. the taxes are static. new player with no NIC at hand pay allot, older player with masses of NIC at hand pay nearly nothing.

so what are the taxes are for?

- scaring of noobs?
- for the sake of an extension as EP sink for a specialisation?
- as NIC sink?

*Disclaimer: This post can contain strong sarcasm or cynical remarks. keep that in mind!
Whining - It's amazing how fast your trivial concerns will disappear