Homework: Managerial Economics
Address the following questions in 5 to 7 pages:
o Compare and contrast how each of the following uncovers value:
- English and Dutch auctions.
- Sealed-bid first-price auctions and Vickery auctions.
o Compare and contrast surge pricing and congestion pricing. Give an example of each currently in use.
o Identify three examples of auctions used in finance, e-commerce, and/or e-games. Explain the following in-depth:
- The need for an auction to uncover value in the product or service.
- How the type of auction used to uncover the value of the product or service is better at uncovering value than other types of auctions.
o What are the advantages or disadvantages of auctions as revenue generators for not-for-profit organizations?
o Suggest ways in which a for-profit company, such as the company for which you work or a company for which you aspire to work, can use auctions or dynamic pricing to better uncover value and increase revenue.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.