Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Overview Dynamic pricing is a collection of pricing strategies used by firms and organizations to enhance profits. You will begin by exploring pricing techniques that

Overview Dynamic pricing is a collection of pricing strategies used by firms and organizations to enhance profits. You will begin by exploring pricing techniques that operate in the market in real time. Then you will explore how auctions are employed in the search to find the value of goods and services. Consult the following video before getting started: The Ideal AuctionLinks to an external site.. Instructions Write a 5-7 page paper in which you: Compare and contrast surge versus congestion pricing. Provide a specific example of each currently in use. There are many types of auctions, each with strengths and weaknesses in uncovering the real price/value of an item. Compare and contrast how each of the following uncovers value and provide a specific example of how each uncovers value: The English auction and the Dutch auction. The sealed-bid first-price auction and the Vickery Auction. Auctions are widely used. Analyze an actual auction employed by each of the following: A state or federal government or an agency of a state or federal government. A for-profit business. For each, explain what type of auction is employed and how the auction solves the problem of finding the best price for the good or

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Here is a 57 page paper comparing and contrasting different dynamic pricing strategies and auctions Surge vs Congestion Pricing Surge pricing as used ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics

Authors: James T. McClave, Terry T Sincich

12th Edition

9780321831088, 321755936, 032183108X, 978-0321755933

More Books

Students also viewed these Economics questions