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eBay is an example of an online auction market (0AM) All OAM's reduce transaction costs (TCs) by collecting buyers and sellers in a central location,

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eBay is an example of an online auction market (0AM) All OAM's reduce transaction costs (TCs) by collecting buyers and sellers in a central location, thereby reducing search costs. eBay has rened the DAM experience in several ways go beyond the mere linking of buyers and sellers. 1. From a consumer's and seller's perspective, list (2) (remaining) transactions costs (besides search) of buying and selling within an unregulated OAM. Be specific and reference transactions costs ideas used in class. 2. How has eBay refined OAMs? List 2-3 specific web site features that eBay adds that are not found on unregulated OAMs that merely link buyers and sellers. Be specific

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