I propose that the market mechanism in the Galactic Trading Center be changed from an auction model to something more like a commodities market.

What this means is that you could place either buy or sell orders for any item, specifying the price you wish to pay / be paid per item and how many items you wish to sell. The system connects buy and sell orders for the same item when the seller is willing to sell for an equal or lesser amount than the buyer is willing to pay. The system is also able to determine from completed orders an estimated value for the item in question, which becomes a suggested price for the item. This price can go up and down, subject to supply and demand.

Advantages to this system compared to the current system include being able to both buy and sell, rather than only sell; creation of a price that transactions can use as a guide; and elimination of the need for volume limits, as partial orders can be completed.

Galactic Stock Exchange. How is that going to work with Dan math?

i think a market mechanism is probably out of reach. there just is not enough activity in the GTC to get any kind of price standard set that wouldn't be skewed by outliers (like the current storage fiends on the GTC). Dan has not given any indication that he is interested in adjusting the GTC thus far, but he could still use the same mechanisms he has in place now to bring out buy orders.

right now we have sell orders with a minimum price set by the seller. zero cost to place the sell order, which ties up the artis for the duration of the auction, but the bidders pay 10 energy per bid.

for buy orders, Dan could have the prospective buyer list an amount of artis they are willing to buy for a set price - costs 10 energy for each buy order, and ties up the credits (same time periods as the sell orders). sellers can fill the order immediately.

buyers will have to figure out whether it is worth playing the bidding game (at 10 energy a pop) or place a buy.now bid once for 10 energy at a price that is high enough to be filled quicker than the auction will close.

sellers can check out existing buy.orders and if they want a better price, they can set an minimum price higher than what is offered. if they are happy with a price, the sale takes place immediately and they don't have to wait for an auction to close if they need the credits right away.

I'd be happy with the addition of a "buy now" price. People might use it far more consistently if 90% of bids outside of 30 secs weren't just wastes. More usage would also stabilize values for "buy now."

Good point, Glaxor. That would make the current system more like eBay, which it currently resembles, and wouldn't require nearly as much recoding.