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Case Study Auctions and Dynamic Pricing.docx Running Header: Auctions and Dynamic Pricing 1 ECO550 Week 7 Assignment Case Study: Auctions and Dynamic Pricing Strayer University ECO550 €... “ Managerial Economics and Globalization Compare and contrast how each of the following uncovers value: i. English and Dutch auctions. The English auction is what many people regard as an auction. It involves open bidding where participants bid against each other, with each bid being higher than the one previously placed. The auction ends when no participant is willing to bid further or when a predetermined price is achieved, and the highest bidder pays that price (Fine, 2018). Sellers may set a reserve price, and if the auctioneer is unable to achieve a bid higher than the reserve price, the sale may not go on. In the traditional Dutch auction, the auctioneer sets the price and begins with a high price and lowers it until a buyer i. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [Show More]

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