Case Study 1: Auctions-Summer 2019 - - ***MUST BE 100% AUTHENTIC WORK*** Tested again SafeAssign for Copyrighting. The following video describes auctions as price discovery mechanisms https://www.yo

ECO550039VA016-1196-001 - MANAGERIAL ECONOMICS & GLOBALI CASE STUDY -- SUBMIT HERE April Owens on Sun, Aug 18 2019, 1:55 PM 25% highest match Submission ID: 3aba6a51-de72-45e7-9d0f-421e8b56a632 Attachments (1) OWENS - Case Study1.docx TYPE S O F A CTIO N E A CH W IT H S T R EN GTH A N D W EA K N ESS 5 T yp es o f A uctio n e ac h w it h S tr e n gth a n d W ea k n ess A pril O wen s 1 E CO 550 – MA NAG ER IA L E CO N OM IC S & G LO BA LI (H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) D r. P hylli s I s le y 2 1 9 A UG UST 2 0 19 ( H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB- SA -B B_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) 3 I N TR O D UC TIO N O F A UC TIO N A N D R EA SO N F O R A N A U CTIO N A N A U CTIO N IS A S Y ST E M TH AT I N VO LV ES B U YIN G A N D S E LLIN G G O OD S O R S E R VIC E S B Y O FFE R IN G T H EM FO R B ID DIN G, A LLO W IN G P E O PLE T O B ID O PE N LY A N D LA TE R S E LLIN G T O T H E H IG H EST B ID DER .

(H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) The p ro ce ss i n vo lv es b id ders c o m petin g f o r e ac h o th er's a n d e a ch b id b ein g h ig h er t h an t h e p re v io u s o n e o r v ic e v ers a bas ed o n t h e t y p es o f au ctio n b ein g p ra ctic e d . W hen b id i s p la ce d t h e a u ctio n eer s ta rts a t (http://safeassign.blackboard.com/) OWENS - Case Study1.docx W ord Count: 1,760 Attachment ID: 2055392631 25% th e l o w est p ric e s an d w hen e ac h p ar tic ip an t p la ce s a b id w it h h ig h er p ric e s, t h e p ric e o f t h e pro d u ct o r s e rv ic e s i n au ctio n w ill r is e u n til w hen t h ere i s o n ly o n e b id der w illi n g t o p u rc h ase th at t h e p ric e s al lo cat ed w hic h m ost o f t h e t im e i s t h e h ig h est p ric e s ( C op pin ger, S m it h , & T it u s, 1 9 8 0). O nce t h e b id din g p ro ce ss i s c o m ple te a n d t h e v en dor a g re es t o s e ll a t t h e pre se rv ed p ric e s af te r c o m petit iv e p ric in g.

T he m ain p u rp ose o f t h e au ctio n i s t h e f o rm atio n o f p ric e s f o r t h ose g o od s t h ro u gh a b id din g pro ce ss. T he au ctio n in g d esig n t h e w ay i t i s s e t i t e n co u ra g es b id der t o b e o p en a n d d is c o u ra g e an y f o rm o f c h eat in g o r c o llu sio n w it h a n i n te n tio n m ax im iz in g o n r e v en ue. T here a re f o u r fo rm s o f au ctio n t y p es av ail able w hic h i n clu de a n a u ctio n o f t h e a sc e n din g – bid a ls o k n ow n a s o p en , o ral o r E ngli s h au ctio n . 4 T H E S E CO N D T Y PE O F A UC TIO N I S T H E DESC E N DIN G – B ID O R D UT CH A U CTIO N .

(H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) 5 T H E T H IR D FO RM OF A UC TIO N I S T H E F IR ST -P R IC E S O R S E A LE D -B ID A U CTIO N .

(H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) L A ST L Y , T H E LA ST A UC TIO N I S T H E S E CO N D-P R IC E S O R S E A LE D -B ID V IC K ER Y A U CTIO N .

(H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) a) .T he E ngli s h an d D utc h au ctio n s T he E ngli s h a u ctio n i s a n a sc e n din g s e q u en tia l b id a ctio n th at b id ders h av e t o w at ch o th er p la ce s a b id f r o m t h e l o w est p ric e a n d d ecid e w heth er t o in cre as e t h e p ric e s b id o r n ot. 4 T H E P R IC E O F T H E B ID K EEPS O N I N CR EA SIN G A S MO RE A N D MO RE B UY ER S P LA CE H IG H ER V ALU E F O R T H E I T E M B ID .

(H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) The g o od s o r a se rv ic e is s o ld t o t h e h ig h est b id der. T he h ig h est v a lu e b id m ea n s t h at n o o th er b u yers a re w illi n g t o in cre as e t h eir b id t o h ig h er v al ue an d a t t h is s ta g e, t h e b u yer m ay d ecid e t o s e ll o r n ot t o s e ll t h e it e m o r g o od at t h at p re v ail in g h ig h er v a lu e ( C op pin ger, S m it h , & T it u s, 1 9 8 0 ). T he D utc h au ctio n i s t h e au ctio n m eth od u se d t o s e ll p ro d u ce s a f lo w er i n t h e N eth erla n ds. T his a u ctio n m eth od s tar ts w it h t h e h ig h est as kin g p ric e s a n d l o w ers t h e b id u n til o n e o f t h e b id ders i s w illi n g t o ac ce p t t h e au ctio n p ric e .

W hen a bu yer agr ees t o b u y at t h at pric e t h e p ric e i s a ch ie v ed . T he a d va n ta g e a sso cia te d w it h th is m eth od i s t h e s p eed i n d ete rm in in g t h e p ric e b eca u se t h ere a re n o o th er b id s t h an t h ere i s it e m an d r e lat iv ely t ak e a lo t o f t im e. T his i s t h e r e a so n t h e m eth od i s p re fe rre d i n b id din g f o r flo w ers b ecau se t h e f lo w ers ar e h ig h ly p eris h ab le . U nder E ngli s h a u ctio n t h e b id i s c o m ple te w hen t h e b id der c an r e ac h t h e s e t p ric e s b u t i f t h ey a re n ot a b le t o p la ce a t v en dors p re v a ili n g pric e o r h ig h er t h e b id i s n ot c o m ple te d . 6 UN DER T H E T WO ME TH OD S O F A N AUC TIO N , T H E B ID DER S H AV E I N FO RM ATIO N A N D C A N O BSE R VE N OT O N LY TH AT O TH ER B ID DER S D RO P O U T, B U T H IG H EST B ID S A T P A ST M OM EN TS O R L O WE R B ID S. ( H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) There fo re w it h t h is in fo rm atio n b id ders c an d ecid e t h e v a lu atio n o f o th ers a n d a llo w s a b id der t o r e v is e h is v al uat io n .

7 B ) T H E S E A LE D B ID F IR ST -P R IC E A U CTIO N A N D T H E V IC K ER Y A U CTIO N . (H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) The f ir s t- p ric e s e al ed -b id au ctio n i s a s e a le d b id i n s u ch a w ay t h at n o b id ders g et t o k n ow t h e bid o f t h e c o m petit o r ( C op pin ger, S m it h , & T it u s, 1 9 8 0 ). 8 T H E B ID DER H AS T H E OPPO RTUN IT Y O F S UB MITTIN G O N E B ID A N D D OES N OT G ET A N O PPO RTUN IT Y T O C H AN GE T H EIR B ID P R IC E .

(H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) The h ig h est b id der g ets t h e c h an ce o f t h e o w ners h ip o f t h e g o od s o r s e rv ic e s. 9 UN DER V IC K REY A UC TIO N , TH E WI NNIN G B ID DER P A YS T H E S E CO N D-H IG H EST B ID R ATH ER T H AN TH EIR O WN . ( H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) 10 T H E B ID DER WI LL C O MMO NLY S E E A UT OM ATE D C O N TE X T S U CH A S R EA L-T IM E B ID DIN G FO R O N LIN E A UC TIO N .

(H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) The b id din g w in ner g ets o w ners h ip o f t h e i t e m at t h e s e co n d-h ig h est b id r a th er t h eir b id . T he V ic k ery a u ctio n i s n ot co m mon ly p rac tic e d u n le ss i n f o re ig n c u rre n cy i n d ev elo p in g c o u n tr ie s.

7 A D VIS E C O N CIE R G E A S T O T H E W EA K N ESS T H AT A N E N GLIS H A U CTIO N MA Y H AV E I N UN CO VER IN G A P R O PE R TY ’S V ALU E (H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) In t h e E ngli s h au ctio n , t h e au ctio n eer c a n e x ert s u bsta n tia l i n flu en ce b y m an ip u la tin g t h e b id s w it h h is o r h er v o ic e , t o n e, p ac e an d p ers o n ali t y . T he a u ctio n eer c a n s till i n cre a se o r s lo w t h e pac e o f t h e b id s an d e v en r e fu se t o a ck n ow le d ge c e rta in b id s e sp ecia lly w hen t h eir m em bers w ho h av e agr eed n ot t o o u tb id e ac h o th er's ( D asg u pta , & H an se n , 2 0 07). T he a u ctio n eer cre at es m ore e x cit e m en t am on g t h e b id din g c ro w d i n t h e p ro ce ss o f c h an t b id din g w hic h m ay al so i n flu en ce t h e b id der p erc e p tio n . T he r e se rv e p ric e i s n ot r e v ea le d h en ce i t p re v en t t h e bid der f r o m l o w erin g t h e f in al p ric e . T here fo re t h ro u gh t h e v a rio u s w ea k n ess i d en tif ie d o f E ngli s h au ctio n i s p ossib le f o r n ot b e a b le t o u n co ver t h e p ro p erty v a lu e a n d t h is m ig h t b e a s it u at io n t h at f o r c o n cie rg e au ctio n f o r m an ip u la tin g b id s b y t h eir v o ic e s o r t h ro u gh f a k es b id s esp ecial ly w hen t h e i s a ch at tin g b id din g a n d r e p etit iv e a n nou n ce m en t o f t h e b id .

F ail ure t o ac kn ow le d ge s o m e b id s an d f a ilu re t o d is c lo se i n fo rm atio n a b ou t t h e l o w est b id m ay g iv e t h e o w ner o f t h e i t e m a dif fe re n t e x p ecta tio n b u t i f t h e i n fo rm atio n i s d is c lo se d t h e o w ner w ill h av e a ce rtain e x p ectat io n ab ou t t h e r e a l v a lu e o f t h e a sse ts . 1 1 T H E A LTE R N ATIV ELY TH E A UC TIO N ME TH OD T H AT W OU LD U N CO VER T H E V ALU E O F U N IQ U E REA L E ST A TE P R O PE R TIE S I N CLU D ES U SIN G A W RIT TE N -B ID A U CTIO N .

(H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) This au ctio n r e q u ir e s th at al l b id s t o b e s u bm it te d i n w rit in g a n d a ft e r e x am in in g a n i t e m f o r a u ctio n , t h e b id i s s u bm it te d t o a box w it h in an al lo ca te d p erio d . O nce t h e a llo ca te d t im e p asse s, t h e a u ctio n eer th en o p en s u p t h e b ox an d e x am in es t h e b id s a n d a w ard t h e i t e m t o t h e w in nin g b id . E ven th ou gh t h e m eth od h as i t s w eak ness i t g iv es t h e s e lle r a c h an ce t o m ax im iz e o n r e v en ue i f t h e bid r e se rv e p ric e i s m et an d t h e s e lle r k n ew t h e t r u e v a lu e o f t h e e sta te s b eca u se b ase d o n t h e bid der v al ue.

A uctio n s ar e w id ely u se d i n f in an ce , e -c o m merc e a n d i n e -g am es T he a u ctio n p la ys a n im portan t r o le i n f in an ce e sp ecial ly w hen t r a d in g s to ck i n v ir tu al N ASD AQ b eca u se i t g iv es a c h an ce t o a se lle r t o i n dic at e r e se rv e p ric e a n d t h e b u yer w ill p la ce t h e b id s ( R eck , 1 9 94). T he bid i s ar ran ged b as ed o n t h eir v al ue h en ce b u yer h as a c h an ce o f s e le ctin g a b id t h at m ax im iz e s h is o r h er v al ue. T here fo re t h e u se o f a u ctio n i n f in an ce i s t o e sta b li s h t h e p ric e s t h at w ou ld b e eq u al t o t h e v al ue o f t h e g o od s. S till, a n a u ctio n i s a n i d ea l w ay o f s e lli n g a n i t e m w hen t h e s e ll e r d oes n ot k n ow e x ac tly h ow t h e p ote n tia l b u yers v a lu e t h e o b je cts . T he a ctio n h elp s r e d u ce t h e un ce rtain ty o n p ro d u ct p ric e s b eca u se a n i n te re ste d b u yer w ill p ay t h eir b id b ase d o n h ow t h ey v al ue t h e p ro d u cts .

S till, an au ctio n i s t h e f as te r m eth od o f d is p osin g o f a p ro d u ct s o ld o n li n e f o r e x am ple s e ll i n g flo w ers . T he h ig h est b id der w ill t ak e t h e f lo w er a t t h e l o w est v a lu e. T he f lo w er b u sin ess i s hig h ly p eris h ab le h en ce t h e au ctio n m eth od s s a ve o n t im e a n d h elp t h e b u yers m eet c o n se n su s fo r al l t h e f lo w ers i n ste ad o f s e lli n g s in gle p ro d u cts . T his m eth od i s a p pro p ria te w hile s e ll i n g th e f lo w er b ecau se o f t h e r is k i n vo lv ed . W hile s e lli n g a h ig h ly c o stly p ro d u ct, t h e f ir s t t h e se al ed -b id f ir s t- p ric e au ctio n i s ap pro p ria te b eca u se t h e s e lle r w ill n ot b e c o n fu se d b y t h e au ctio n eer h en ce t h e b id ders w ill n ot h ave a c h an ce o f s h arin g n ote s a b ou t w hat t h ey h ave p lac ed s in ce t h e b id i s p lac ed i n a se a le d e n velo p e. T he s e lle r w ill c h oose t h e h ig h est b id der.

12 A D VAN TA G ES/D IS A D VAN TA G ES O F A U CTIO N S A S R EV EN UE G EN ER ATO RS FO R N OT-F O R-P R O FIT O RG AN IZ A TIO N S (H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) The n on pro fit o rg an iz at io n s s e rv e t h e c o m mun it y o r a re o rg an iz e d a ro u n d s o cia l c a u se s. T he ad van tage o f t h e au ctio n as a re v en ue g en era to r f o r n on -p ro fit i s t h at i t i n sp ir e s o th ers t o g iv e th ro u gh p u bli c d is p lay o f p h ilan th ro p ic w ho i n sp ir e o th ers w it h s im ila r c a p acit y t o h elp . T he ac tio n h elp s i n b u ild in g a co n nectio n w it h e x is tin g d on ors . T he c h arit y e v en ts a re a g re a t w ay o f co n nectin g t h e e x is tin g d on or t o c h am pio n t h e m is sio n o f t h e o rg an iz a tio n . T he c h arit y a u ctio n is v ie w ed as an o p portu n it y t o c u lt iv a te a r e la tio n sh ip w it h r e sp ectiv e d on ors t h at w ou ld l e a d t o s ig n if ic an t c o n tr ib u tio n g re at er t h an t h e c o n tr ib u tio n f r o m t h e a u ctio n i t s e lf . T he a u ctio n i s a g re at w ay t o s h ar e t h e o rg an iz at io n v is io n .

T hro u gh s h ar in g i d eas an d w elc o m in g d on or t o h elp t h e o rg an iz a tio n f u lf ill t h e m is sio n m ay re su lt i n m ore c o n tr ib u tio n . T he au ctio n i s n ot t h e r ig h t f u n dra is in g m eth od f o r n on -p ro fit o rg an iz at io n b ecau se t h e au ctio n e v en ts a re e x p en siv e a n d h ave h id den c o st a n d s till i t i s t im e- in te n siv e. T he c h ar it y au ctio n t ak es t im e, a r e so u rc e t o b e i t w orth d oin g i t . T he p ro ce ss i s t e d io u s b ecau se t h e p lan nin g an d t h e n on pro fit o rg an iz a tio n m ay n ot a cco u n t f o r t im e l o st. T he ev en t i s p u rp ose ly m ad e t o r ais e f u n ds h en ce m is sin g t h e i m porta n t o p portu n it y t o c u lt iv a te t h e rig h t i n div id u al s.

H ow an o rg an iz at io n c an u se an au ctio n t o r a is e r e v en ue a n d t o u n co ver v a lu e.

T he o rg an iz at io n c an u tili z e au ctio n t o r e co ver v a lu e f o r g o od f o r e x am ple u se d m ach in es a n d car s. T he m ac hin e m ay b e au ctio n ed t o t h e w illi n g b u yer t h ro u gh b id din g p ro ce ss i n ste a d o f keep in g t h e e q u ip m en t y et t h e e q u ip m en t y ie ld z e ro c a sh f lo w . A s e m plo yees o f N esc a fe , t h e org an iz at io n c an u se an au ctio n t o b id f o r c h ea p er c o ffe es f r o m t h e m ou n ta in ou s r e g io n i n A fr ic an , A sian an d o th er c o u n tr ie s. T his m eth od e n su re s t h e c o m pan y h as d ir e ct a cce ss t o t h e co ffe e an d s h ar e t h e i m portan t d eta ils w it h t h e s e lle r i n ste a d o f d ep en din g o n t h e m id dle m an o r s u ppli e rs t o d eli v er t h e c o ffe es t o t h e f ir m . S till, a n ew b ra n d o f c o ffe e p ro d u ct, N esc a fe c a n al lo w f o r t h e b id din g p ro ce ss f o r t h e h ote li e r f ir m t o b id f o r t h e p ro d u ct.

R efe re n ce s: Cop pin ger, V . 13 M. , S MI TH , V . (H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) L ., & T IT US , J . (H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) A. ( 1 9 8 0). 13 IN CE N TIV ES A N D B EH AV IO R I N E N GLIS H , D UTC H A N D S E A LE D ‐ BID A UC TIO N S. ( H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) E CO N OMI C IN QUI RY, 1 8 (1 ), 1 -2 2. ( H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB- SA -B B_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) Reck , M . ( 1 9 94) . 3 T Y PE S O F E LE CTR O N IC A UC TIO N S. (H TTP S:/ /B LA CK BO AR D .S T R AYER .E D U/W EB A PPS/M DB-S A - BB_B B60 /O RIG IN ALIT Y R EPO RTP R IN T?

C O UR SE _ID =_24 50 82_ 1& PA PE R ID =20 553 9 26 31& &ATTE M PTID =3A BA 6A 51- D E72 -4 5E 7-9 D 0F-4 21E 8B 56 A 632 & CO U RSE _ID =_ 24 50 82_ 1# ) In fo rm atio n an d Com mun ic at io n s T ech n olo gie s i n T ou ris m ( p p. 2 36 -2 4 3). S p rin ger, V ie n na.

W an g, K ., W an g, E . T ., & T ai, C . F . ( 2 0 02). A s tu dy o f o n li n e a u ctio n s it e s i n T aiw an : p ro d u ct, au ctio n r u le , an d t r ad in g t y p e. I n te rn atio n al J o u rn al o f I n fo rm atio n M an ag em en t, 2 2(2 ), 1 2 7- 142 .

Das gu pta, S ., & H an se n , R . G . ( 2 007 ). A uctio n s i n c o rp ora te f in an ce . I n H an dbook o f E m pir ic a l C orp orat e F in an ce ( p p. 8 7-1 43 ). E ls e v ie r.

Citations (13/13) 1 Another student's paper 2 Another student's paper 3 Another student's paper 4 Another student's paper 5 Another student's paper 6 Another student's paper 7 Another student's paper Matched Text 8 Another student's paper 9 Another student's paper 10 Another student's paper 11 Another student's paper 12 Another student's paper 13 Another student's paper Suspected Entry: 83% match Uploaded - OWENS - Case Study1.docx ECO550 – MANAGERIAL ECONOMICS & GLOBALI Source - Another student's paper Managerial Economics & Globali Suspected Entry: 69% match Uploaded - OWENS - Case Study1.docx 19 AUGUST 2019 Source - Another student's paper May 19, 2019 Suspected Entry: 82% match Uploaded - OWENS - Case Study1.docx INTRODUCTION OF AUCTION AND REASON FOR AN AUCTION AN AUCTION IS A SYSTEM THA T INVOLVES BUYING AND SELLING GOODS OR SERVICES BY OFFERING THEM FOR BIDDING, ALLOWING PEOPLE T O BID OPENLY AND LATER SELLING T O THE HIGHEST BIDDER Source - Another student's paper An auction is a system of buying and selling goods or services by of fering them for bidding, allowing people to bid, and selling to the highest bidder Suspected Entry: 79% match Uploaded - OWENS - Case Study1.docx TYPES OF ELECTRONIC AUCTIONS Source - Another student's paper Types of Auctions Suspected Entry: 65% match Uploaded - OWENS - Case Study1.docx THE SECOND TYPE OF AUCTION IS THE DESCENDING –BID OR DUTCH AUCTION Source - Another student's paper A Dutch auction is a descending price auction Suspected Entry: 84% match Uploaded - OWENS - Case Study1.docx THE PRICE OF THE BID KEEPS ON INCREASING AS MORE AND MORE BUYERS PLACE HIGHER VALUE FOR THE ITEM BID Source - Another student's paper The price of the bid keeps increasing as more buyers bid for a higher value Suspected Entry: 63% match Uploaded - OWENS - Case Study1.docx THE THIRD FORM OF AUCTION IS THE FIRST - PRICES OR SEALED-BID AUCTION Source - Another student's paper The sealed bid first price auction and the Vickery auction Suspected Entry: 63% match Uploaded - OWENS - Case Study1.docx LASTLY, THE LAST AUCTION IS THE SECOND- PRICES OR SEALED-BID VICKER Y AUCTION Source - Another student's paper The sealed bid first price auction and the V ickery auction Suspected Entry: 71% match Uploaded - OWENS - Case Study1.docx UNDER THE TWO METHODS OF AN AUCTION, THE BIDDERS HAVE INFORMATION AND CAN OBSERVE NOT ONL Y THAT OTHER BIDDERS DROP OUT , BUT HIGHEST BIDS A T PAST MOMENTS OR LOWER BIDS Source - Another student's paper He can observe not only that other bidders drop out, but also the highest bids at past moments Suspected Entry: 100% match Uploaded - OWENS - Case Study1.docx B) THE SEALED BID FIRST -PRICE AUCTION AND THE VICKERY AUCTION Source - Another student's paper b) the sealed bid first price auction and the V ickery Auction Suspected Entry: 100% match Uploaded - OWENS - Case Study1.docx ADVISE CONCIERGE AS TO THE WEAKNESS THAT AN ENGLISH AUCTION MA Y HAVE IN UNCOVERING A PROPERTY’S V ALUE Source - Another student's paper Advise Concierge as to the weakness that an English auction may have in uncovering a property’ s value Suspected Entry: 72% match Uploaded - OWENS - Case Study1.docx THE BIDDER HAS THE OPPORTUNITY OF SUBMITTING ONE BID AND DOES NOT GET AN OPPORTUNITY TO CHANGE THEIR BID PRICE Source - Another student's paper Each bidder can only submit a single bid and does not get an opportunity to change their bid price Suspected Entry: 76% match Uploaded - OWENS - Case Study1.docx UNDER VICKREY AUCTION, THE WINNING BIDDER PAYS THE SECOND-HIGHEST BID RA THER THAN THEIR OWN Source - Another student's paper The winning bidder pays the second highest bid, rather than his own bid Suspected Entry: 71% match Uploaded - OWENS - Case Study1.docx THE BIDDER WILL COMMONL Y SEE AUTOMATED CONTEXT SUCH AS REAL-TIME BIDDING FOR ONLINE AUCTION Source - Another student's paper You will commonly see this on automated contexts such as real time bidding for online auctions Suspected Entry: 64% match Uploaded - OWENS - Case Study1.docx THE AL TERNATIVELY THE AUCTION METHOD THAT WOULD UNCOVER THE V ALUE OF UNIQUE REAL ESTATE PROPERTIES INCLUDES USING A WRITTEN-BID AUCTION Source - Another student's paper Another auction type that may help to uncover the value of unique real estate properties is the First - Priced Sealed Bid Auction Suspected Entry: 100% match Uploaded - OWENS - Case Study1.docx ADV ANTAGES/DISADV ANTAGES OF AUCTIONS AS REVENUE GENERA TORS FOR NOT -FOR- PROFIT ORGANIZA TIONS Source - Another student's paper the advantages/disadvantages of auctions as revenue generators for not-for-profit organizations Suspected Entry: 99% match Uploaded - OWENS - Case Study1.docx M., SMITH, V Source - Another student's paper M., Smith, V Suspected Entry: 100% match Uploaded - OWENS - Case Study1.docx L., & TITUS, J Source - Another student's paper L., & Titus, J Suspected Entry: 99% match Uploaded - OWENS - Case Study1.docx INCENTIVES AND BEHA VIOR IN ENGLISH, DUTCH AND SEALED‐ BID AUCTIONS Source - Another student's paper Incentives and behavior in English, Dutch and sealed ‐ bid auctions Suspected Entry: 100% match Uploaded - OWENS - Case Study1.docx ECONOMIC INQUIRY, 18(1), 1-22 Source - Another student's paper Economic inquiry , 18(1), 1-22