Auctions

Auctions/bidding may be influenced by different rules and formats and thus their results may turn out to be significantly different. Prior to beginning work on this discussion, read Roth and Ockenfels' article, Last-Minute Bidding and the Rules for Ending Second-Price Auctions on the Internet(Links to an external site.).Roth and Ockenfels discuss last-minute bidding and the rules of bidding on eBay and Amazon internet auction sites. Roth & Ockenfels' article provides useful background but is out-of-date (published 2002). You must perform additional research to completely respond to this discussion.

1)What are the main differences between auctions on eBay and auctions on Amazon?

2)What are the advantages and disadvantages between auctions on eBay and auctions on Amazon?

3) Which auction rule between eBay and Amazon do you prefer? Why? Explain.

Your discussion must look beyond "sniping." Be sure to describe advantages and disadvantages to buyers and sellers in terms of their economic aspects.