Case study 1: auctions-summer 2019 | ECO 550 Managerial Economics and Globalization | Strayer University

 Case Study 1:  Auctions-Summer 2019

Due Week 7 Worth 250 pts

The following video describes auctions as price discovery mechanisms https://www.youtube.com/watch?v=4kWuxfVbIaU

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.  Concierge Auctions Limited sells very high end and unique properties worldwide using an English style auction, selling to the highest bidder.  They have been embroiled in multiple law suits, see the link to the Wall Street Journal.  Advise Concierge as to the weakness that an English auction may have in uncovering a property’s value.  Provide a recommendation for at least one other auction type which may better uncover the value of unique real estate properties.

https://www.wsj.com/articles/luxury-real-estate-firm-concierge-auctions-fights-allegations-of-fraudulent-bids-11549568689

3.  Auctions are widely used in finance, e-commerce and in e-games.  Identify 3 uses of auctions by firms 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.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency