Assignment 1.docx ECO 550 Case Study: Auctions and Dynamic Pricing ECO 550 Managerial

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Assignment 1.docx ECO 550 Case Study: Auctions and Dynamic Pricing ECO 550 Managerial Economics and Globalization Introduction There are many different types of auctions that are used for a sell... er to sale their items. Some auctions are anonymous, and some are public. Companies also use two different pricing methods, surge, and congestion pricing, to know when a price needs to be increased for better profits. Auctions assist the seller in finding the best value for their product and can be used in finance, e-commerce, and e-games. They are also utilized by both for-profit and non-profit companies. Each auction type has their own advantages and disadvantages it is up to the seller to determine which type of auction will be utilized. Auction Types An English auction is also known as an oral auction. These types of auctions are common. The auction lasts until there is only one bidder left. English auct. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [Show More]

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