There are many types of auctions, each with strengths and weaknesses at uncovering the real price or value of an item. Auctions are widely used in finance, e-commerce, and e-games. They are also widely used to generate revenue for not-for-profit organizations.
The following video describes auctions as price discovery mechanisms:
The Ideal Auction.
Use the video on auctions and at least three academic or high-quality business publications (see acceptable types below) to compare and contrast English auctions and Dutch auctions, and sealed-bid first-price auctions and Vickery auctions.
Address the following questions in 5–7 pages:
Compare and contrast how each of the following uncovers value:
English and Dutch auctions.
Sealed-bid first-price auctions and Vickery auctions.
Compare and contrast surge pricing and congestion pricing. Give an example of each currently in use.
Identify three examples of auctions used in finance, e-commerce, and/or e-games. Explain the following in-depth:
The need for an auction to uncover value in the product or service.
How the type of auction used to uncover the value of the product or service is better at uncovering value than other types of auctions.
What are the advantages or disadvantages of auctions as revenue generators for not-for-profit organizations?
Suggest ways in which a for-profit company, such as the company for which you work or a company for which you aspire to work, can use auctions or dynamic pricing to better uncover value and increase revenue.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
Acceptable Types of Publications
A high-quality, professional business publication is one that is primarily directed at reporting or analyzing the workings of the business. Examples are the Wall Street Journal, Bloomberg, and Reuters. Avoid general news publications such as USA Today, the Washington Post, and the New York Times. Other articles and resources can be found at the Strayer Library.
Please do not rely on Wikipedia, Investopedia, or similar websites as references at any time in this course.
The specific course learning outcome associated with this assignment is:
Propose ways in which a company can use auctions to better uncover value and increase revenue.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more