Why that type of auction is appropriate for product-service

Assignment Help Microeconomics

Reference no: EM132184062

Case Study 1: Auctions

The following video describes auctions as price discovery mechanisms

Video: The Ideal Auction - Numberphile (By Numberphile)

Use the video on auctions and at least 3 academic and/or high-quality business publications, see definitions below, to answer the following questions in 5-7 pages:

1. There are many types of auctions each with strengths and weakness at uncovering the real price/value of an item. Compare and contrast:

a) the English and Dutch auctions; and,

b) the sealed bid first price auction and the Vickery Auction.

2. After many months of offers and counter offers for Sky PLC, the UK's The Takeover Panel (https://www.thetakeoverpanel.org.uk/) required that Sky PLC be acquired via an auction. What type of auction was the Sky auction, who were the bidders and who won? Given that there had been multiple public offers revealed by the bidders, was the auction type selected the best type of auction for the Sky acquisition?

3. Auctions are widely used in finance, e-commerce and in e-games. Identify 3 applications of auctions used in finance, e-commerce and/or e-games. Explain the:

a) need for an auction in the product/service; and

b) what type of auction is used and why that type of auction is appropriate for the product/service.

4. Auctions are also widely used to generate revenue for not-for-profit organizations. What are the advantages/disadvantages of auctions as revenue generators for not-for-profit organizations?

5. Suggest ways in which the company you work for, or the company which you aspire to work for, can use auctions to better uncover value and increase revenue.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12) with one-inch margins on all sides; citations and references must follow APA format. Check with your professor for any additional instructions.

Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title and the date. The cover page and the reference page are not included in the required assignment length.

Acceptable Types of Publications

The definition of a high-quality professional business publication is one which is primarily a publication directed to reporting and/or analysis of the workings of business. Examples are: Wall Street Journal, Bloomberg, Reuters...etc. Avoid general news publications such as USA Today, Washington Post, NY Times.

Please do not rely on wikipedia, investopedia or any other pedia as a reference at anytime in this course.

Submission Rules

You may submit 1 attempt at the assignment to test your SafeAssign Score. The SafeAssign score should be 25% or less.

You may submit one and only one additional attempt

Reference no: EM132184062

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