Case Study 1: Auctions-Spring 2019 – Assignment
Case Study 1: Auctions-Spring 2019 – Assignment
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.
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.
This assignment is for my MBA, Managerial Economics ECO550 class. Please find my grading rubric below:
Content
Name: ECO550 Week 7 Case Study: AUCTIONS
Description:
ECO550 Week 7 Case Study: Auctions
| Unacceptable Below 70% F | Fair 70-79% C | Proficient 80-89% B | Exemplary 90-100% A | |
|---|---|---|---|---|
| 1. Compare and Contrast: A) English versus Dutch auctions; and, B) sealed first price versus Vickery auctions. |
Points Range:0 (0%) – 17.48 (6.99%) Did not submit or did not address the subject. |
Points Range:17.5 (7%) – 19.98 (7.99%) Partially compared both set A and set B auction. |
Points Range:20 (8%) – 22.48 (8.99%) Satisfactorily compared both set A and set B auction. |
Points Range:22.5 (9%) – 25 (10%) Thoroughly compared both set A and set B auction. |
| 2. For Concierge Auctions Limited: A) What alleged violations of a legitimate auction are asserted in the litigation? B) What are the potential weaknesses of an English auction in uncovering the value of highly unique real estate property? C) Recommend at least one other auction type which may better uncover the value of unique real estate properties. Explain why this type of auction may be better. |
Points Range:0 (0%) – 26.22 (10.49%) Did not submit or did not address the subject. |
Points Range:26.25 (10.5%) – 29.98 (11.99%) Partially completes A, B and C. |
Points Range:30 (12%) – 33.72 (13.49%) Satisfactorily completes A, B and C. |
Points Range:33.75 (13.5%) – 37.5 (15%) Thoroughly completes A, B and C. |
| 3. Identify 3 applications of auctions in finance, e-commerce and/or e-games. For one of these explain: A) the need for an auction; and B) identify the type of auction used and was that an appropriate form of auction. |
Points Range:0 (0%) – 34.95 (13.98%) Did not submit or did not address the subject. |
Points Range:35 (14%) – 39.95 (15.98%) Partially identifies 3 application of auctions and partially explains A and B. |
Points Range:40 (16%) – 44.95 (17.98%) Satisfactorily identifies 3 application of auctions and satisfactorily explains A and B. |
Points Range:45 (18%) – 50 (20%) Thoroughly identifies 3 application of auctions and thoroughly explains A and B. |
| 4. Thoroughly identifies 3 application of auctions and thoroughly explains A and B. |
Points Range:0 (0%) – 26.18 (10.47%) Did not submit or did not address the subject. |
Points Range:26.25 (10.5%) – 29.92 (11.97%) Partially identifies advantages and disadvantages of auctions as revenue generators for not-for-profit organizations. |
Points Range:30 (12%) – 33.68 (13.47%) Satisfactorily identifies advantages and disadvantages of auctions as revenue generators for not-for-profit organizations. |
Points Range:33.75 (13.5%) – 37.5 (15%) Thoroughly identifies advantages and disadvantages of auctions as revenue generators for not-for-profit organizations. |
| 5. Suggest ways in which the company for which you work or the organization with which you are associated can use auctions to better uncover value or increase revenue. |
Points Range:0 (0%) – 52.35 (20.94%) Did not submit or did not address the subject. |
Points Range:52.5 (21%) – 59.85 (23.94%) Partially suggests ways in which the identified company or organization can use auctions to uncover value or increase revenue. |
Points Range:60 (24%) – 67.35 (26.94%) Satisfactorily suggests ways in which the identified company or organization can use auctions to uncover value or increase revenue. |
Points Range:67.5 (27%) – 75 (30%) Thoroughly suggests ways in which the identified company or organization can use auctions to uncover value or increase revenue. |
| Use of at least 3 academic quality references. One has been published in the last 6 months. |
Points Range:0 (0%) – 8.72 (3.49%) Did not submit or did not include citations or references in work. |
Points Range:8.75 (3.5%) – 9.98 (3.99%) Used enough references however not all were of academic quality, and one has been published in the last 6 months. |
Points Range:10 (4%) – 11.22 (4.49%) Did not use enough references however all were of high quality and citations/references were appropriately done, and one has been published in the last 6 months. |
Points Range:11.25 (4.5%) – 12.5 (5%) Used 3 or more academic quality reference and citations were appropriately done, and one has been published in the last 6 months |
| Clarity, writing mechanics, and formatting requirements. |
Points Range:0 (0%) – 8.74 (3.5%) Student did not submit the assignment or there are so many errors that work is confusing to read. APA citation not attempted. |
Points Range:8.75 (3.5%) – 9.99 (4%) Several errors(5-6) in grammar, formatting and APA citation. |
Points Range:10 (4%) – 11.24 (4.5%) A few errors (3-4) in grammar, formatting and APA citation but not so much that the reader is confused. |
Points Range:11.25 (4.5%) – 12.5 (5%) Minimal (0-2) errors in grammar, formatting and APA citation. |
Name:ECO550 Week 7 Case Study: AUCTIONS
Description:
ECO550 Week 7 Case Study: Auctions
"You need a similar assignment done from scratch? Our qualified writers will help you with a guaranteed AI-free & plagiarism-free A+ quality paper, Confidentiality, Timely delivery & Livechat/phone Support.
Discount Code: CIPD30
Click ORDER NOW..
