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Plus Arithmetic

How are are market prices determined?

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yeah the title says it all

EDIT:  I want to know how the game averages the prices of trades sent by players into a "market price", as in algorithms or even code, i am not asking about how the game's economy works or how trading in game works

Edited by Plus Arithmetic
Answers were not answering my intial question

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Invisible hand.

People who have a supply of products put their product's up with a view to maximising profits.  This is subject to some bounding constraints, primarily on the actual cost of production for individual nations.

People who require products put purchase orders up with a view to minimising costs.

Overlapping prices/volumes execute, with uncleared product representing the current available market price.

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On 1/7/2019 at 5:39 PM, Frawley said:

Invisible hand.

People who have a supply of products put their product's up with a view to maximising profits.  This is subject to some bounding constraints, primarily on the actual cost of production for individual nations.

People who require products put purchase orders up with a view to minimising costs.

Overlapping prices/volumes execute, with uncleared product representing the current available market price.

I know i was very vague, but i meant how the game determined it, like codes and algorithms, nonetheless this was great

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The game doesn’t really determine a price, only calculates the average price of a resource. However, prices of products can stray from the average price, more or less, and people can even undercut it. 

In orbis, there are two types of people: the buyers and the sellers. The buyers wants to buy resources at the lowest price possible. They want the most bang for their buck. The sellers, on the other hand, wants to sell their resources at the highest price possible. They want to maximize their profits.

Despite these desire, they can’t get exactly what they want. If the sellers price their products too high, then they could deter potential buyers. If the buyers demand too low of a price, then sellers would be discouraged from selling that product. 

So they make a compromise, as you will. What is the compromise? Well, it’s simple really: the market price. 

To answer your question, it is determined by people wanting to either find a cheap price or sell as high as a possible without deterring people. It’s basic economics, really, and it’s the closest we could get to pure capitalism, besides Monopoly.

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On 1/20/2019 at 4:36 PM, AwesomeNova said:

The game doesn’t really determine a price, only calculates the average price of a resource. However, prices of products can stray from the average price, more or less, and people can even undercut it. 

In orbis, there are two types of people: the buyers and the sellers. The buyers wants to buy resources at the lowest price possible. They want the most bang for their buck. The sellers, on the other hand, wants to sell their resources at the highest price possible. They want to maximize their profits.

Despite these desire, they can’t get exactly what they want. If the sellers price their products too high, then they could deter potential buyers. If the buyers demand too low of a price, then sellers would be discouraged from selling that product. 

So they make a compromise, as you will. What is the compromise? Well, it’s simple really: the market price. 

To answer your question, it is determined by people wanting to either find a cheap price or sell as high as a possible without deterring people. It’s basic economics, really, and it’s the closest we could get to pure capitalism, besides Monopoly.

I'm asking how the game calculates the price from the players, i know that the players determine the price

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2 hours ago, Plus Arithmetic said:

I'm asking how the game calculates the price from the players, i know that the players determine the price

I believe it's the average of all goods bought and sold on the global market. For example,

Shaun buys 500 munitions for $500 each

John buys 1000 munitions for $1000 each

500 munitions * $500 + 1000 munitions * $1000 = 1,250,000

1,250,000/1500 (# of munitions traded) = $833.33 per unit

I'm fairly sure my math for the example is right, but you still get the point if it's wrong.

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tl;dr, the average price for the last 10,000 trades of any given product is listed as the "average" price up at the top.

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