Economics homework help

Case Study: Auctions and Dynamic Pricing

Overview

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:

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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.

Instructions

Address the following questions in 5–7 pages:

1. Compare and contrast how each of the following uncovers value:
   • English and Dutch auctions.
   • Sealed-bid first-price auctions and Vickery auctions.
2. Compare and contrast surge pricing and congestion pricing. Give an example of each currently in use.
3. 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.
4. What are the advantages or disadvantages of auctions as revenue generators for not-for-profit organizations?
5. 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.