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No matter what the price of an item is...

STAR WARS: The Old Republic > English > Crew Skills
No matter what the price of an item is...

SnowHeart's Avatar


SnowHeart
12.13.2011 , 11:20 AM | #21
Quote: Originally Posted by Cronnnik View Post
OP, have you ever complained about the price of gas but then bought it anyway b/c you had to?

Price gouging is illegal in the real world, but some people don't like to apply real world principles/ethics to games.
No monopoly in game means price gouging will basically be impossible. If a competitor can make or find the same item, he/she has a right to sell it for less.

As for real world principles and ethics... I'm playing a Sith. My character tortures people because it makes him giggle, because he's bored, because it'll get him promoted, because he has the hots for Lord Zash and thinks electrocuting someone will help him get into her skirt. What are you talking about, ethics? It's a GAME! Want to sell it cheaper? Sell it cheaper and watch your item sell quicker than the other guy's. Problem solved. (Edit: Maybe you do recognize this. If so, please just take this as good natured, quasi-sarcastic agreement with the underlying principle.)

Aethos's Avatar


Aethos
12.13.2011 , 11:28 AM | #22
Good points Krevnik.

Again, I agree with the free market as-is, and I like some of the fail-safes that have been introduced in this game and others. Playing devil's advocate to see what people think of the traditional "game economy" and mostly, I'm just bored at work and CANT WAIT TO GET HOME to play this game.

Now I should get back to work. I have a lot to accomplish between now and quitting time.

cheers!
Originally of SWG Valor ( -V- ) of Eclipse Server
Now playing Republic and Empire on Shadowlands (PVE) server.

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Masterspazz's Avatar


Masterspazz
12.13.2011 , 11:31 AM | #23
hi im me
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KlintusFang's Avatar


KlintusFang
12.13.2011 , 11:43 AM | #24
Quote: Originally Posted by Aethos View Post
Good points, but I'm getting at the fact that people will still buy at the higher price....it's just the people that have time to farm all day and "make a living" so to speak, in-game. I only get about 2 hours a day, maybe.

I just ground out enchanting in WoW and had to spend weeks harvesting materials because our maket is so overly-inflated that only those with very big pockets can participate. (prices on my server place maxing out enchanting from 0-525 around 25,000gold). I agree that people will find other routes if they can't afford to use the market, which I was forced to, but how lame is that?! Granted, there's no real fix to the issue, but that's why it's a pain in the butt, and why people cry about it.
fwiw, if it takes you weeks of your time to farm the items yourself, then i would expect them to be fairly expensive on the AH, because it took someone else weeks to farm them so they can post them there.

i agree that people can and will try to corner markets by buying all of an item and the reselling it at a higher price. but the fact that something that takes you weeks to farm was too expensive for you to buy without farming doesn't really mean the item was over priced.
In a minute there is time for decisions and revisions which a minute will reverse. -T.S. Eliot

Sylverdyne's Avatar


Sylverdyne
12.13.2011 , 11:46 AM | #25
Quote: Originally Posted by Krevnik View Post
In SWTOR, because certain materials only come from missions, it places a lower bound on their market price, and discourages farming them by gold farmers (as they risk taking a loss and eating into their inventory for sale). If materials become cheaper than running the missions, that excess stock will usually get bought up, but if materials get too cheap, mission-running suddenly looks pretty good. It is an interesting way to offer checks and balances to the market and ensure that inflation/deflation doesn't get too out of hand. How well it will actually work is still up in the air. I haven't seen enough activity to really form an opinion one way or the other.
This is certainly true. High level exclusive Mats that only can be acquired from missions (Read: Treasure Hunting Gems) will have a lower bound on their prices. To the converse, the mission system also puts an UPPER bound on prices for mats available both in the open world and through missions (Ex: Archaeology) needed for leveling a profession. Raise those prices too high, and it becomes simply easier to spam the missions. That item will fail to sell.

It will be interesting to see how the economy plays out, honestly. I don't think that the same old theories that worked in WoW will apply perfectly in TOR.

VanorDM's Avatar


VanorDM
12.13.2011 , 11:54 AM | #26
Some inflation in game actually helps the casual player.

The price of mats can go up, but the cost of stock items like a speeder does not, so it makes it even easier for casual players to get the money needed to buy things like that.

I know in WoW around the time of WotLK when I played, it wasn't that hard to come up with with gold for a mount, by simply selling raw ore on the AH. I didn't really ever go out of my way to get it, just collected what I saw and sold it for a bit less then the going price.

Montbrun's Avatar


Montbrun
12.13.2011 , 12:42 PM | #27
The GTN gives you a suggested price when you list the item.
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Guvs's Avatar


Guvs
12.13.2011 , 01:13 PM | #28
Demand-pull inflation is asserted to arise when aggregate demand in an economy outpaces aggregate supply. It involves inflation rising as real gross domestic product rises and unemployment falls, as the economy moves along the Phillips curve. This is commonly described as "too much money chasing too few goods". More accurately, it should be described as involving "too much money spent chasing too few goods", since only money that is spent on goods and services can cause inflation. This would not be expected to persist over time due to increases in supply, unless the economy is already at a full employment level.

Pretty noob friendly economics there. I have faith in the intelligence of those playing the game to understand this concept.

So, if the people complaining about the increase in prices employ themselves in crafting the goods being chased, they will effectively realize their own effective "equalibrium". I.E. - the effect of too much money chasing too few goods will now be to their advantage.

ialsoagree's Avatar


ialsoagree
12.13.2011 , 01:26 PM | #29
Quote: Originally Posted by Guvs View Post
So, if the people complaining about the increase in prices employ themselves in crafting the goods being chased, they will effectively realize their own effective "equalibrium". I.E. - the effect of too much money chasing to few goods will now be to their advantage.
This! If an MMO economy starts to get out of hand it's typically due to a lack of anything to spend your money on except what other players are selling (whether it be materials they find, items they found, or things they've crafted).

With money sinks (anything that removes money from the game world, IE. vendor purchases, purchasing speeders, anything that doesn't get transfered to another player and thus is no longer accessible to any player) you reduce the amount of funds used to inflate prices just as Guvs described.

And while some inflation is almost inevitable, in the end that very inflation benefits most players in the long run. The inflation is generally caused by a few players who have accumulated large amounts of wealth and are willing to buy items at exuberant prices because they can afford to.

Initially, those exuberant prices are a cause for complaint - "so-and-so can afford it but I can't because they're just farming credits!" But in the long run, it's just wealth redistribution. The people putting items up to sell will include those who aren't rich, and if it's only the rich who can buy, money funnels it's way down to the bottom.
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Hiden's Avatar


Hiden
12.13.2011 , 01:59 PM | #30
Quote: Originally Posted by Pestwulf View Post
Unlike the price of gas, there is no one entity controlling and setting the price of item sales in TOR. Gas is legalized price gouging. A high item on the GTN is like the OP said, it will stay there or sell. What will determine that is more about how many similar items are up for sale and how much they are going for. The price will equal out, and sometimes you get a new trader on the network that has NO CLUE about what the value of what they have is.

If you happen to buy an item from him for 10% of it's actual worth, don't yell at him for undercutting the market, just realize that everyone is new at something when they first try it. Likewise if he has something up for 200%, he will realize his error eventually without the need to ream him out.
Yes, but who decides the price for such items when they are the first such items? It is a new game with plenty of people waiting to get started and there are going to be plenty of firsts. Now, those firsts can either be reasonable economists or flaming idiots. Items may be posted for a reasonable and acceptable price or they may be posted ridiculously high or low, either way it will take time for a market to be established and balance out. Some players will look on the GTN and think just because it's priced high or low that it is really rare/good or very common/crap, when that may not be true of the item in either situation. I'm just simply saying there are those that will always find something to complain about no matter what, just because they have nothing better or more entertaining to do. Hopefully buyers and sellers will find common ground in the market economy here rather quickly.
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