Reference no: EM133065334

Here 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.

-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.