Balancing the towns prices and wages.

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Balancing the towns prices and wages.

Post by Guest on Tue Sep 28, 2010 8:55 pm

I would like to work on creating a balanced market I tried to do that while i was market overseer but I just don't have the number brain for it. Please post ideas on getting the market balance.

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Re: Balancing the towns prices and wages.

Post by Guest on Tue Sep 28, 2010 11:42 pm

I am looking at ways to help the Town's economy while still offering a fair buying price for the hard work of the farmers, ranchers, gatherers, miners and woodcutters.

This is also something that we are looking at for the Economic Development team.

One thing I am looking at as the Market Overseer is raising the prices of the rarer herbs, such as Mountain Ivy. As these are scarce ingredients, it makes more sense to pay slightly more. At this time, it is only a consideration. But as our leader has said, we need suggestions and ideas in order to help you.

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Re: Balancing the towns prices and wages.

Post by Guest on Mon Oct 04, 2010 2:14 am

Aurora listens and her head begins to ache at the mention of numbers and balanced markets. What would be next? Literacy? She shudders at the thought.

M'lords. I find myself to be more of a tell me what to do and I'll do it type of gal.

Having said her piece she sits back down, near the back, in case she needs to make a fast get away.

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Re: Balancing the towns prices and wages.

Post by Guest on Mon Oct 04, 2010 1:12 pm

There have been quite many mentions of that iron ore price is too low, however if you are going to change the buying and selling price of iron ore it must be thought through all levels. Some time ago, it was changed and selling an iron bar would go with loss. So if the price of iron ore would be changed, iron bars would for sure have to be changed as well - and all items mainly made from iron would be affected.

I suggest lowering the buying price of coal or at least place a cap on how much the town has, exactly how much I can't really say as I don't recall what the average coal per 100 stamina was. Mining coal is much more profitable than mining iron ore. Also, not as many coal is needed to create an iron bar. Only 2 coal and 100 iron ore. A cap at 100 seems fair in my opinion. While Spero has the coal mine, I'm sure we don't need 250 coal constantly. That's like 125 iron bars... Feel free to disagree Wink

I like the idea of increasing buy price for rare herbs. I've been keeping some of the rarer sort as I think the town buys them for too little.

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Re: Balancing the towns prices and wages.

Post by Guest on Mon Oct 04, 2010 2:20 pm

I agree herb prices can go up. but before we touch the iron price we need to think about the impact it will have with everything else

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Re: Balancing the towns prices and wages.

Post by Axel Ackland on Mon Oct 04, 2010 5:24 pm

Raising the iron price will, likely, cause everyone to go to the iron mine, as even if the iron sells at 2 bronze, that's 2 silver a day minimum. The average daily wage is about .5 bronze, that'd throw it off quite a bit and cause inflation.

As for coal, yeah prices are too high, and probably caps too. The average coal output for a beginner miner is about 5-10, for an expert miner such as myself Razz it's about 40-60, with a possible 300 (very, very, unlikely Razz)

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Re: Balancing the towns prices and wages.

Post by TheHeirtotheThrone on Mon Oct 04, 2010 5:48 pm

Economies really arent developed based on daily wages though, they are based on supply and demand.

If a town has a shortage on something the price should raise to represent that. When the price rises then more people will want to produce it until the market is saturated. Eventually the price will find its equilibrium.

This is difficult though on something with as little value as iron ore, the price cannot drop below the current price of 1 b, and the next step to raise it up is a 100% increase.

Now there are two possible solutions, one would be to use a less valuable coin than bronze to buy iron. This would allow for a more realistic fluctuation in iron ore prices.

The second would be raise the standard of measurement for iron ore. For example, say one current unit of iron ore is 1 oz. We would just change that to represent 3 oz. This would raise the price and per unit without any effect on the rest of the market.

The first option is pretty unrealistic in our situation. It would require quite a bit of change to the coding.

The second option on the other hand would require only a simple change to the iron mine formula, [(current formula) div 3], and changing the workshop so it took 33 iron ore to make an iron bar instead of 100.

This would have pretty much no effect on the rest of the market, yes it would take 1 less oz. of iron ore to make a bar, but that would be balanced out by the div formula in mining getting rid of the remainder if the production wasn't divisible by 3.

Thats my thought on the issue, either way it would require Lord Aro to make the change.
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Re: Balancing the towns prices and wages.

Post by Guest on Mon Oct 04, 2010 7:58 pm

um.. What do you mean with the oz stuff? I see nothing about oz in game. Please use the game names, iron ore or iron bar. I don't use oz in real life so it makes what you said quite a bit confusing.

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Re: Balancing the towns prices and wages.

Post by Axel Ackland on Mon Oct 04, 2010 8:24 pm

An oz is 28.6ish grams Razz Anyways, he means a way to break up an iron ore, so you can sell a third of one iron ore, so that it would take 3 iron ozs to make 1 bronze (which would be the same as 1 iron ore.)

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Re: Balancing the towns prices and wages.

Post by Guest on Mon Oct 04, 2010 9:11 pm

Aurora puzzles. So the solution is to triple the amount of iron ore on the market?

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Re: Balancing the towns prices and wages.

Post by Axel Ackland on Mon Oct 04, 2010 10:18 pm

Heir's point was to make there smaller increments to purchase iron in...

Cause at the current price iron ore sells at 1 bronze each. As the town may need iron ore at times more than others, they are unable to increase the price the town buys at without doubling the value. Also there is no way to lower the price of iron when there is a high demand to still allow miners to make some money off what they produce. At 1 bronze per iron ore, a miner would make at the very least 1 silver per day, which is twice that of the recommended daily wage of .5 silver per day, though it's a completely understandable wage due to the necessity of a pickax, travel, and inconveniences.

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Re: Balancing the towns prices and wages.

Post by Guest on Mon Oct 04, 2010 10:57 pm

Thank you for the explanation and forgive me, because I am new and numbers do have trouble finding their way into my brain. She smiles sincerely But, with all the inconveniences, isn't 1 bronze per iron ore fair? If the right and honourable Aro can change one iron ore into three, could he not also find a way to lower the price of iron so that the miners can have a wage no matter what the market situation?

Again, m'lords, I apologize if I am seemingly lost. I am trying to make sense of a situation that has probably been months in the making.


Aurora hopes that no one is offended as she tries to sort out the information in her mind. If only she had actually been tutored in the maths and sciences instead of needlepoint and sewing. Unconsciously she hides her hands, the calloused fingers would catch and ruin the fine silk threads she had once used in her needle work although she no longer bemoaned the fact that her life had been so altered.

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Re: Balancing the towns prices and wages.

Post by Axel Ackland on Mon Oct 04, 2010 11:50 pm

Simply bronze is the lowest form of currency we have:) In the first of Heir's suggestions, it's based on another currency lower than bronze. Otherwise what could be changed is the output of iron to be a minimum of 50 iron ore per 100 stamina and have the amount of iron cost to make an iron bar be 50 as well. That gives a little bit more room for changing the buying price for iron. But, whatever, I think the price is fine at 1 bronze right now Wink

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Re: Balancing the towns prices and wages.

Post by Airy on Tue Oct 05, 2010 12:29 am

Basically Aurora the coding would have to change the entire monetary system of the game. Thats a huge thing, because then instead of working with just gold, silver and bronze, we'd need to add in pennies to stop the inflation of all our goods if we were to raise the price of iron as some say is needed. And again paying 2 bronze per ore to increase things, then that just moves the problem up, we still have an inflexible economy, but are just paying a higher cost for everything with nothing really changing.

I like Heirs idea though of changing the iron value itself, it won't affect nearly so much but there does seem to be a need for greater flexibility too. It is a decision for the economic team to tire their brains on though, lucky them. Razz

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Re: Balancing the towns prices and wages.

Post by Guest on Tue Oct 05, 2010 12:49 am

Aurora giggles. Yeah, lucky them. Thank you for the answers too. I would just like to say that in this time of upheaval, I am thankful to not be on the economic committee. And, for those of you that are I'd like to say that I am happy to buy you a pint if I can ever figure out how where the drinks are stored.

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Re: Balancing the towns prices and wages.

Post by Airy on Tue Oct 05, 2010 1:04 am

I've been looking, nothing so far Sad

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Re: Balancing the towns prices and wages.

Post by Guest on Tue Oct 05, 2010 1:07 am

Perhaps we should just take matters into our own hands?

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Re: Balancing the towns prices and wages.

Post by Airy on Tue Oct 05, 2010 1:07 am

What do you have in mind? ^^

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Re: Balancing the towns prices and wages.

Post by Guest on Tue Oct 05, 2010 1:09 am

The Grand Tavern and Inn of Camaar.

(OOC) No reason we can't RP a good tavern party. (/OOC)

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Re: Balancing the towns prices and wages.

Post by Airy on Tue Oct 05, 2010 1:11 am

OOC: Meet me at the...uh...stories and tales, or tales and stories, I'll start something up there, seeing as we are in different towns or supposed to be. Wink

And lemme try and think of a good name for it too Razz

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Re: Balancing the towns prices and wages.

Post by Guest on Tue Oct 05, 2010 1:12 am

(OOC)
Razz

I'm there.
(/OOC)

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Re: Balancing the towns prices and wages.

Post by Airy on Tue Oct 05, 2010 1:13 am

OOC: ah rubbish they hit us with the big wide world forum, how about an inn half way between the towns in that forum, this way everyone can come and meet there if they wish? (Aro can move it later Razz)


Last edited by Airy on Tue Oct 05, 2010 1:23 am; edited 1 time in total

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Re: Balancing the towns prices and wages.

Post by Airy on Tue Oct 05, 2010 1:23 am

OOC: and done The Big Wide World has a new Inn and boy didnt we get off topic..lol.

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Re: Balancing the towns prices and wages.

Post by Lord Arogandor on Tue Oct 05, 2010 2:59 am

Girls, please keep on topic next time. 🐷

Heir I'll gonna increase the value of Iron Ore so that the price of 1 iron ore can be changed more Smile

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Re: Balancing the towns prices and wages.

Post by Airy on Tue Oct 05, 2010 3:09 am

*smooches Aro* Will do, but seems we solved the economic and social problem between the towns...all for one and one for...everyone!

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