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Request for Owl of Minerva to report summary statistics (particularly measures of centre and spread)

Discussion in 'Suggestions' started by Aurum, Jan 12, 2021.

  1. Aurum
    Offline

    Aurum King Slime

    27
    10
    36
    Nov 3, 2019
    Male
    11:35 AM
    Aduro
    F/P Wizard
    50
    Hi there,

    Just thought of another potential suggestion.

    I was wondering if the game moderators could build a function into the Owl of Minerva mechanic. In addition to already providing a report of the prices of a given item by various vendors, I was wondering if the Owl of Minerva could also report summary statistics (particularly measures of centre and spread) of selling prices.
    By this, I mean, specifically:
    The Owl of Minerva would calculate the mean (or average), median, range (maximum and minimum prices), and/or standard deviation of all the selling prices deemed by each vendor for a particular item. The Owl need not calculate ALL of these statistics, but at least some reliable measures of centre and spread of the prices in mesos.
    Why measures of *both* centre and spread of selling prices? Well, so that we could see if the mean is influenced by extremely large or extremely low prices.
    I suggest this because sometimes a list of selling prices for a particular item are several pages long. Although I'm sure many of us go by the mode of the prices (i.e. the most frequently sold value), reports of such summary statistics will help us make a more informed decision as to how to proceed with buying and selling items.
    By the way, I'm no statistician by any stretch. If anyone has a better idea as to the implementation of this function, I'm all ears!

    A potential caveat I see to the implementation of this function is that it would make buying and selling items a bit too easy of a feat. I would imagine this would save a lot of time and room for error for both novice merchants and experienced merchants trying to make money or sell items -- thereby compromising the effort, ingenuity, and satisfaction achieved while merching.

    Just another thought I've came up with and thought would be worth sharing. Thanks again! ;)
     
  2. whatdatoast
    Offline

    whatdatoast Windraider

    469
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    Apr 9, 2020
    8:35 AM
    whatdatoast
    Bowman
    Because owls are so widely used and sites like owlrepo.com sort of tracks prices over time, I would say that most people only care about the minimum price (of course this functionality only makes sense for scrolls and etc, not equips). For most expensive scrolls, there's honestly not that much stock at a given time (<100). Usually people just owl and buy the cheapest ones and the market adjusts when more people owl and undercut. Occasionally, a single buyer would buy out most of the available stock, but even then knowing the average probably wouldn't affect much. I doubt very many people just randomly browse the FM and buy without owling.

    I'm not sure how owl currently sorts, but having the ability to re-order the search would be nice (least expensive, most expensive, etc). Keeping track of historical lows (lowest price in a week or month) of items would be nice though.
     
    • Agree Agree x 2
    • Useful Useful x 2
  3. geospiza
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    geospiza Web Developer Staff Member Web Developer

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    Apr 16, 2020
    8:35 AM
    geospiza
    Dark Knight
    146
    Funk
    OwlRepo was built in part to compute statistics of owl screenshots that I was hoarding. You might find it interesting since it generates reports on uploads new uploads. Here's an example of a report for overall int 30% as food for thought.

    Summaries are really only useful for consumables because it's difficult to interpret equipment prices without the stat ranges. I'm not sure how the average player responds to seeing things like the median or standard deviations (although for a game, this one involves a lot of stats). Then there are subtle problems that require some thought like dealing with outliers, biases of the data, and people willing to abuse mechanics (scrolls for 99B on several mules?). On the client side of things, I have a feeling that showing a summary in the Owl UI is a little too custom and would be difficult to make look right.

    I agree with whatdatoast that the min price is the most valuable summary from my experience using owls in game. Being able to reorder the search results is an interesting idea, but it might change our collective behavior in weird ways like more aggressive undercutting. It would definitely make it easier to find things to buy though.
     
    • Great Work Great Work x 1

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