Tuesday, September 13, 2005

Proposal: Market, Take Two

7-0. Reached Quorum.—Chronos

Adminned at 13 Sep 2005 10:20:25 UTC

If Proposal: Currency didn’t pass, this Proposal does nothing.


Add a Market Making sub-rule to Market:

If a Country other than the Hegemonist has no more than one pending Market Order, that Country may issue a Market Order, by Posting it at the top of the Commodities Market Discussion page (at http://blognomic.com/wiki/index.php?title=Talk:Commodities_Market).

A Market Order must have the following format:
  (BUY/SELL) Order from ~~~~ to (Target Country)
  * NN of (Commodity 1) at H$ XX each
  * NN of (Commodity 2) at H$ XX each
  …
  * NN of (Commodity N) at H$ XX each

The trailing four tildes (~~~~) are obligatory and will be rendered by the Wiki software as the name of the Country posting the Market Order (the Issuer) and the time of that posting.

A Market Order must contain only SELL Orders or only BUY Orders.

“NN” means the amount of each Commodity the Issuer wishes to Buy or Sell.

The price (H$ XX) at which the trade is offered must not differ by more than 10% (in either direction) from the last Market Position for that Commodity for the same transaction (BUY or SELL) at the time the Market Order was posted..

The Target Country may signalize eir acceptation or rejection of the trade by editing the Market Order post with an entry in this format:

  (Accepted/Rejected) ~~~~

The Hegemonist may Accept Trades targeted at another Country if that Country rejects it or if 24 hours have passed since the issuing of the Market Order and the Target Country has not signalized eir acceptation or rejection.

The Hegemonist will always accept a Market Order if, and only if, one of these conditions are true:
* It’s a SELL Order, the Issuer has enough Stock of the listed Commodities to fulfill the Market Order and the H$ XX value is equal to or lesser than the SELL value for that Commodities in the last Market Position at the time the Market Order was posted;
*It’s a BUY Order, the Hegemonist has enough Stock of the listed Commodities to fulfill the Market Order and the H$ XX value is equal to or greater than the BUY value for that Commodities in the last Market Position at the time the Market Order was posted.

A Country may not have more than one BUY Order pending, neither more than one SELL Order.


Add an Order Processing sub-rule to Market:

Market Orders can either be Pending, Closed, or Failed. When a Market Order is first posted, it is considered Pending.

The Hegemonist will process the Pending Market Orders in the same chronological ordering they were posted.

In a BUY Order, the Issuer is the Buying Country and the other party the Selling Country. In a SELL Order, the Issuer is the Selling Country and the other party the Buying Country.

The Hegemonist will Close a Market Order if, and only if, all these Conditions are true:
* The Selling Country has enough Stock of the listed Commodities;
* A Country has accepted the Market Order;
* The Target Country is not the same as the Issuer.

When Closing a Market Order, the Hegemonist will transfer an amount of H$ from the Buying Country to the Selling Country equal to NN time H$ XX, for each listed Commodity, as posted on the Market Order. The Hegemonist will then transfer an amount of NN for each listed Commodity from the Selling Country to the Buying Country.

The Hegemonist will Fail a Market Order if any of these conditions is true:
* The Target Country is the same as the Issuer;
* The Selling Country has not enough Stock of the listed Commodities;
* The Target Country has Rejected the Market Order and the Hegemonist is unable to Accept it;
* 24 hours have passed since the issuing of the Market Order, the Target Country has not signalized eir acceptation or rejection and the Hegemonist is unable to Accept it;

When Failing a Market Order, the Hegemonist will fine the Country who posted the Failed Order by an amount of H$ equal to 5% (five percent) of the total amount of H$ that would be have transferred should the Market Order Close.


Here’s the second part, much streamlined. The role of the Hegemonist is to warranty a market, whenever he is able to.

Comments

smith:

09-13-2005 02:02:05 UTC

for wow, this is detailed. I hope an economic simulation will work, all moderated by the Hegemonist. I like the ~~~~ thing about the wiki, I did not know that.

Excalabur:

09-13-2005 06:17:58 UTC

for
However, this seems WAAAY more complicated than it needs to be.

I’ll propose some amendments in a second.

I’m also not at all enamoured with the heavy use of the wiki. 

Final comment:  chronos, is there any chance you’re an econ type?  this is the second extraordinarily complicated monetary system you’ve proposed in two dyansties.

Shadowclaw:

09-13-2005 09:32:21 UTC

for

jamuraa:

09-13-2005 12:41:44 UTC

for

gazebo_dude:

09-13-2005 15:36:08 UTC

for

Purplebeard:

09-13-2005 17:10:10 UTC

imperial