Case study 1: auctions and dynamic pricing

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The following video describes auctions as price discovery mechanisms:

Use the video on auctions and at least three academic or  high-quality business publications (see acceptable types below) to  answer the following questions in 5–7 pages. Other articles and  resources can be found at the Strayer Library.

  • There are many types of auctions, each with strengths and  weakness at uncovering the real price or value of an item. 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. 
  • Auctions are widely used in finance, e-commerce, and in  e-games. 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. 
  • Auctions are also widely used to generate revenue for  not-for-profit organizations. 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. 

Formatting Requirements

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 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.

Please do not rely on Wikipedia, Investopedia, or similar websites as references at any time in this course.

The link for the video is: https://www.youtube.com/watch?v=4kWuxfVbIaU