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blankseplocked Make EVE's market more efficient
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Posted - 2011.06.02 17:11:00 - [1]


I have major issues with the way EVE's market works currently (it is stupid). This is because there are rules and mechanics in place which:
a) Create slow price discovery
b) Drains liquidity and thus ends up making pilots pay a higher spread (the difference between the highest buyer and lowest seller) than is necessary
c) Do not promote a good gameplay; to elaborate, "trading" (especially station trading) is something which benefits the players of EVE because it creates liquidity for players who need to dump or buy large quantities. To an extent this is already happening, but trading is so boring the spreads on many items which have high turnover are still over 10% (unacceptably high).

So I have the following propositions:
-Market punishes adding liquidity: Broker's fee is paid by the lister of the order and not by the taker, it should be the other way around (or no way at all). There is an incentive not to list an order. This means that everyone who may want to buy at a certain level may rather wait for liquidity to come to them in the form of a listed order, instead of providing liquidity by listing an order at that price themselves. If it's not obvious how this causes a liquidity drain feel free to comment.
-The market should be an auction: All real life commodities markets function like auctions. This means that if I have a bid in the market at 50 and somebody throws a limit order at 40 into the market I will still get filled at 50. In EVE I get the stuff for 40 while I am the highest bidder. This is just stupid. Markets function best when they work like an auction. For some reason a "market order" (which means sell to the highest bidder(s) or buy from the lowest seller(s)) is also impossible in EVE. YOu have to manually select which price you want to sell or buy at to execute at the most attractive price.
-In continuation of the previous point, one should be able to give a list price and a maximum price in which you will automatically outbid your competition by 0.01ISK until you can outbid no more. To prevent manipulation, one could put in a delay timer so that when you are outbid you do not immediately outbid the higher bid (this way it will become less transparent to your competition what your maximum bid is, which is good for everyone). If it's not obvious how this will lead to faster price discovery please let me know I'll explain further.

Aineko Macx
Posted - 2011.06.03 09:47:00 - [2]

I agree on the broker fee argument, maybe split it 50/50 between seller and buyer.
I also agree on the suggestion that the markets should work like auctions. However, this would have little impact, as your bid orders are typically filled by direct sells, not listed sells.

Finally, I assume you trade, yet you complain about too large spreads and inefficiencies? Does not compute. I want spreads to be large. For that reason I also do not support the idea of having a list+max price for automatic adjustment. It would reduce 0.01 isk games a bit, but mostly benefit lazy traders, less so the active ones, hence not supported.


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