Spring 2019Due Week 7 Auctions Real Price Value O

Spring 2019Due Week 7 Auctions Real Price Value O

Case Study 1: Auctions-Spring 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.