Wait a second, actually, clarify on what you mean by "dropped" please. 'cause right now what you're saying makes no sense...if I'm interpreting you to be using the same word in the same context. o_o
If by "dropped" you meant the item is literally discarded from the game, then demand is constant and supply decreases. Then whether or not you take account of the substitution effect, the demand still increases for a good item while supply is lowered -> prices rise.
If by "dropped" you meant the drop rate goes up, then demand is theoretically constant and supply increases. So a good item's demand would theoretically remain constant, but actually decrease due to substitution effect, and you'll get a decrease in demand while supply increases -> prices lower.
The former doesn't happen often. The latter results in price drops only if demand doesn't change. However, because there is a constant flow of new players into the game, that means this demand is always on the increase. That's why there is the substitution effect of existing items that are subject to substitution (their prices lower). In the case of Maple Shields, there hasn't really been any substitutes, that's why their prices are still rather constant, if not going up (I remember 20 atk shields being 700 mil 1 year ago, but now 1 bil). For things like bows and weapons like Devil's Sunrise, where Nexon is constantly pumping out events that give better items as substitutions (Stonetooth), this latter effect takes place and prices drop.
However, we're talking about the context of elemental wands. This is similar to that of Maple Shields. There is no substitution effect. So you got your basic supply and demand rules to follow only.
If more Bishops quit or if even less will be created thereof due to "fixing" the attributes of these wands (I dare anyone argue with me on this fact!), demand of these weapons will decrease, so you'll initially see a decrease in their prices. However, if more Bishops quit or less are created/motivated (you can't argue against this, if you remove a factor of motivation for a Bishop, there WILL be less of them, just as we witnessed 1.5 years ago on the lack of priests before Ele Wands and 4th jobs came out), it means less leveling and less players will stay in the game as well, resulting in lack of Gaching and a lowered supply, and prices will rise again. So in the long run, unless the drop rates themselves change, assuming all other things equal and obeying common sense, prices will be relatively the same.
For those of you who don't know or don't believe what I'm taking about in terms of lack of Priests 1.5 years ago, ask around some old timers. Ask the veteran Bishops how many of them enjoyed being heal slaves and just healing at bosses. Ask the veteran trainers how difficult it was to get a Priest at Grims or Hime. Or if you are a veteran trainer or Bishop reading this, think back again and ask yourself.
Indeed, Genesis opened the gate to Bishops. But these "glitched" Elemental Wands widened that gate. All I'm saying here is to let's not take that widening for granted, because you might be the next person begging for HS or a fast and effective training partner if that gate were to narrow again.
If by "dropped" you meant the item is literally discarded from the game, then demand is constant and supply decreases. Then whether or not you take account of the substitution effect, the demand still increases for a good item while supply is lowered -> prices rise.
If by "dropped" you meant the drop rate goes up, then demand is theoretically constant and supply increases. So a good item's demand would theoretically remain constant, but actually decrease due to substitution effect, and you'll get a decrease in demand while supply increases -> prices lower.
The former doesn't happen often. The latter results in price drops only if demand doesn't change. However, because there is a constant flow of new players into the game, that means this demand is always on the increase. That's why there is the substitution effect of existing items that are subject to substitution (their prices lower). In the case of Maple Shields, there hasn't really been any substitutes, that's why their prices are still rather constant, if not going up (I remember 20 atk shields being 700 mil 1 year ago, but now 1 bil). For things like bows and weapons like Devil's Sunrise, where Nexon is constantly pumping out events that give better items as substitutions (Stonetooth), this latter effect takes place and prices drop.
However, we're talking about the context of elemental wands. This is similar to that of Maple Shields. There is no substitution effect. So you got your basic supply and demand rules to follow only.
If more Bishops quit or if even less will be created thereof due to "fixing" the attributes of these wands (I dare anyone argue with me on this fact!), demand of these weapons will decrease, so you'll initially see a decrease in their prices. However, if more Bishops quit or less are created/motivated (you can't argue against this, if you remove a factor of motivation for a Bishop, there WILL be less of them, just as we witnessed 1.5 years ago on the lack of priests before Ele Wands and 4th jobs came out), it means less leveling and less players will stay in the game as well, resulting in lack of Gaching and a lowered supply, and prices will rise again. So in the long run, unless the drop rates themselves change, assuming all other things equal and obeying common sense, prices will be relatively the same.
For those of you who don't know or don't believe what I'm taking about in terms of lack of Priests 1.5 years ago, ask around some old timers. Ask the veteran Bishops how many of them enjoyed being heal slaves and just healing at bosses. Ask the veteran trainers how difficult it was to get a Priest at Grims or Hime. Or if you are a veteran trainer or Bishop reading this, think back again and ask yourself.
Indeed, Genesis opened the gate to Bishops. But these "glitched" Elemental Wands widened that gate. All I'm saying here is to let's not take that widening for granted, because you might be the next person begging for HS or a fast and effective training partner if that gate were to narrow again.