Curse

lg5000 · Feb 10, 2006, 01:25 AM // 01:25

Linen used to be worth more so it used to be cheaper to craft.

As for checking the trader prices, I always get amazed at the amount of people who sell crafting materials at storage, which in droks, is half a city away from the trader with the most up-to-date prices.

*edit: I fail at English

Ruvaen · Feb 10, 2006, 02:47 AM // 02:47

A lot of people don't feel that it's worth their time to sell materials at rates under 10g apiece.

eom · Feb 10, 2006, 03:20 AM // 03:20

Quote:

Originally Posted by Ruvaen

A lot of people don't feel that it's worth their time to sell materials at rates under 10g apiece.

right -- so they spend their time spamming chat for hours to get that extra hundred from their wood.

now, if that was really the reason people sell at 10, then people would also sell at 11, 12, or 13.

I am banning you from this thread.

Ruvaen · Feb 10, 2006, 03:43 AM // 03:43

Hahahaha give me a bit of time to look it up and I'll cite a behavioral economics phenomenon that supports what I said. XD In the meantime...

The underlying assumption of neo-classical microeconomics is that people are rational and will always and only do things to maximize utility. This is not so! Relatively recent research has proven that bounded rationality (cognitive limitations) and the subjective nature of perceived utility causes people to make different decisions even if everyone involved has perfect information and the problem they face only has one "best" solution. John Nash's Game Theory is a perfect example of how people manage to behave idio... errr... in a manner that is not most efficient even when provided with perfect information and only a single solution.

eom · Feb 10, 2006, 04:12 AM // 04:12

translation ====> they are retarded.

Barinthus · Feb 10, 2006, 06:23 AM // 06:23

lol

I keep track of fluncating prices and won't sell any lower than the highest selling price I've seen at the trader. Trust me, gold really come in fast this way

Funda · Feb 10, 2006, 07:19 AM // 07:19

regardless of what you say, it takes me no less than 5 mins to sell my 250 wood, tanned hide, iron, or cloth at 10g/per.

As to why youre making so much ruckus about what the "true" prices should be, who knows.

Francis Crawford · Feb 12, 2006, 10:35 AM // 10:35

Quote:

Originally Posted by Ruvaen

Hahahaha give me a bit of time to look it up and I'll cite a behavioral economics phenomenon that supports what I said. XD In the meantime...

The underlying assumption of neo-classical microeconomics is that people are rational and will always and only do things to maximize utility. This is not so! Relatively recent research has proven that bounded rationality (cognitive limitations) and the subjective nature of perceived utility causes people to make different decisions even if everyone involved has perfect information and the problem they face only has one "best" solution. John Nash's Game Theory is a perfect example of how people manage to behave idio... errr... in a manner that is not most efficient even when provided with perfect information and only a single solution.

Oh, cut the smugness.

I got my Ph.D. in game theory, and also published my last academic paper in anything that resembles economics, before most GW players were born. So maybe I've forgotten a little here or there. But I'm confident that few if any of those big words you're throwing around have much applicability here.

Any price between whatever the trader will pay and whatever the trader will buy at can be rational. It just depends on each individual's tradeoffs between time and GW money.

Francis Crawford · Feb 12, 2006, 10:40 AM // 10:40

When negotiating, it is a lot easier to come to a conclusion if the set of feasible options can somehow be shrunk. The custom of making a price be a "round number" is widespread. For example, how many athletes these days get salary numbers that aren't divisible by 5000? Except in special cases, very few. And for most of the higher paid ones, you can add at least one more zero.

When I set an asking price for something, and prefix it with "nice round number", people are much less likely to insist on haggling downward. That's true whether it's iron at 10 gold or a clean max fire wand at 1000 gold.

toramiko · Feb 12, 2006, 12:11 PM // 12:11

Quote:

Originally Posted by eom

Quote:

Originally Posted by Ure Maker

1) trying to make a quick sale then move on in the game

they're trying to make a quick sale and move on --- but they're willing to hang around chat all day to sell tanned hides for that extra couple gp instead of just going to the trader.

dude, you might not have noticed, but trying to sell wood at 10 is not somebody unloading stuff cheap --- 10 is really higher than it should be.

all materials are 10 ---- you think this is just coincidence?

if you want to defend your brethren, you'll have to come up w/something more than nonsensical excuses.

I'd like to point out I'm one of those "quick sale" people.

When ever I'm passing through Forge, I just sell my materials at a generic 10g/ea to whoever is asking to buy. If they decline my offer, I just carry on and get out of town as soon as possible. I'm not one of those "sit in town selling" people. I actually like to play the game, quest, and do missions.

If I make some money like that... great, if I don't... oh well. I'll just stock pile my materials up to the point where I plan to sell them, and that's when I would check the trader for more accurate prices.

Otherwise, I just sell what I can at the set price of 10g/ea. My intentions aren't to be greedy, because I would buy the same materials that I sell for at 10g/ea if I ever needed any.

Let me also mention that I only stock up on tanned hides, iron and wood; because my guildies would often need them for armor. Everything else I would sell to the merchant. If I had it any other way, I wouldn't stock up on materials at all.

So does that make me an idiot for pricing my materials like that?

Simply put, I just don’t care how accurate my prices are. I'm not a merchant. A 1-2g difference in one piece of wood means nothing to me when buying in small quantities. After all, this is a game, and we're dealing with pseudo-cash.

So I think Ure Maker was refering to people more like me rather than the people you are thinking of oem.

lofblad · Feb 12, 2006, 12:25 PM // 12:25

Quote:

Originally Posted by Astalon the Grey

What I don't get is that the price of a material guy to craft steel from iron/charcoal is more costly ($200+ materials) than it is to just buy steel from a rare materials trader (~190). Wouldn't it make sense to have steel be a little cheaper to craft than to buy outright on the open market?

It is a lot cheaper to craft steel if you got the iron and charcoal from killing monsters instead of buying them from the trader. Sorry for stating the obvious, but what I mean is, I think the main use for the materials crafter is using looted materials, not bought.

eom · Feb 13, 2006, 03:14 AM // 03:14

Quote:

Originally Posted by lofblad

It is a lot cheaper to craft steel if you got the iron and charcoal from killing monsters instead of buying them from the trader. Sorry for stating the obvious, but what I mean is, I think the main use for the materials crafter is using looted materials, not bought.

well, I don't have the figs off the top of my head, but I think some of that stuff (like steel) requires you to kick in 200 cash + materials when you could actually buy the finished product for less than 200.
however, it's my understanding that these material prices are set by the market, so I wouldn't pay too much attention to these discrepancies --- I'd expect anet has other things to worry about than resetting the material crafters.

ps --- to the "quick sale" people

as I have probably pointed out several times in this thread, if you were looking for a "quick sale" you'd sell wood for less than 10.
everybody sells for 10 --- 10 is high.
funny how nobody seems concerned about the trivial few hundred gold in play money, everybody wants to save their precious minutes, but so many hug the number 10 like a life preserver......

like I said --- you people are playing this game on a computer.

lg5000 · Feb 13, 2006, 03:33 AM // 03:33

yup, you can buy steel for 180-200g from the trader, charcoal costs about 200-210g from there... and crafting steel.. ok, I have no idea how much that costs, but you'd have to have charcoal for free first to make it worthwhile. Try making deldrimor steel though, that's definatly cheaper to craft than to buy.

Manic Smile · Feb 13, 2006, 04:49 AM // 04:49

Quote:

Originally Posted by Ruvaen

Hahahaha give me a bit of time to look it up and I'll cite a behavioral economics phenomenon that supports what I said. XD In the meantime...

The underlying assumption of neo-classical microeconomics is that people are rational and will always and only do things to maximize utility. This is not so! Relatively recent research has proven that bounded rationality (cognitive limitations) and the subjective nature of perceived utility causes people to make different decisions even if everyone involved has perfect information and the problem they face only has one "best" solution. John Nash's Game Theory is a perfect example of how people manage to behave idio... errr... in a manner that is not most efficient even when provided with perfect information and only a single solution.

It still holds true, the disparity lies in the semantics of the word utility. People maximize personal utility...even with perfect knowledge and rational choices the value judgements of any given individual will not be the same as that of an economist...I mean the quote uses the word "best". Economist just like to assume people would if they did have perfect knowledge, make em feel better.

So even knowing that it would take him 3 extra hours to sell his wood for only 100 gold more, being a moron he'd still do it. Having perfect knowledge doesn't make you any less of a moron.

toramiko · Feb 13, 2006, 07:09 AM // 07:09

Quote:

Originally Posted by eom

if you were looking for a "quick sale" you'd sell wood for less than 10.
everybody sells for 10 --- 10 is high.

I don't speak for everyone, but I do sell wood for less than 10g/ea. When I do make the effort to sell that is. But if someone in town is buying for 10g/ea and I happen to be in town and take up that offer right away. Is that not a "quick sale"?

Francis Crawford · Feb 13, 2006, 03:56 PM // 15:56

Complicating things, it seems that the prevailing price for wood is heading down to 8. However, I just sold some for 10.

It's probably better to turn wood into parchment. That's fast, and selling parchment for 70-80 still isn't hard.

Swehurn · Feb 13, 2006, 04:52 PM // 16:52

Knowing that the majority of people buying wood want it for parchment, I base my wood selling price on the market's current buying price for parchment.

If the trader is paying 70 gold for parchment (as I've seen relatively often lately), I'll sell wood at 10g. Why should somebody else reap "middleman" profits from my labour collecting wood? In this scenario, for less than 10g, I might as well make parchment out of all the wood and sell it straight to the trader!

Alternately, like Francis said, it's pretty easy to sell parchment to other players for 70+ ea...most of the "WTS" spam I've seen lately is still asking 80-85, so undercutting them at 70 still makes it worth my time to craft and sell parchment instead of selling wood for less than 10.

eom · Feb 13, 2006, 07:49 PM // 19:49

Quote:

Originally Posted by toramiko

I don't speak for everyone, but I do sell wood for less than 10g/ea. When I do make the effort to sell that is. But if someone in town is buying for 10g/ea and I happen to be in town and take up that offer right away. Is that not a "quick sale"?

and in that situation, who is setting the price at 10.........?

ps

plz stop spamming my thread.