Posted: September 11th, 2023
Week 7 | Economics homework help
Week 6 – Assignment Preparation for Week 7
The assignment, Case Study: Auctions and Dynamic Pricing, is due in Week 7.
For this assignment, you will answer the questions in the Case Study: Auctions and Dynamic Pricing assignment instructions. You will also be asked to refer to the video below and to provide at least three academic or high-quality business publications in your assignment submission.
The following is a great resource for additional research to complete your assignment, see Chapters 11 and 12.
For your convenience, the following resource is provided by the Strayer Library at no cost. Links to the online library resources are also available in Canvas via the Course Information page. You may also search by title in the online
Strayer Library
.
· McAfee, R. P. (2009).
Competitive Solutions : The Strategist’s Toolkit
. Princeton University Press.
If you need guidance in your research for this assignment, access the
Strayer University Library ECO550 Library Guide
.
For parts of this assignment, you will want to draw upon the concepts and skills of elasticity, price determination, and other topics from the Problem Sets in Weeks 4 and 6 to inform your development of this assignment submission.
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.
The following is a great resource for additional research to complete your assignment, see Chapters 11 and 12.
For your convenience, the following resource is provided by the Strayer Library at no cost. Links to the online library resources are also available in Canvas via the Course Information page. You may also search by title in the online
Strayer Library
.
· McAfee, R. P. (2009).
Competitive Solutions: The Strategist’s Toolkit
. Princeton University Press.
Instructions
Write a 5-7 page paper in which you:
1. Compare and contrast surge versus congestion pricing. Provide a specific example of each currently in use.
2. 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.
3. 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 service.
4. Read the
Letter from Senator Warren to Fed on Wells Fargo FHC StatusLinks to an external site.
[PDF].
· Explain how an auction to sell the Wells Fargo consumer-facing banking division might be used to determine the value of the division.
· Include a recommendation on what type of auction might be used.
5. Use five sources to support your writing, and include a minimum of three quality resources. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the
Library site
for all support. Check with your professor for any additional instructions.
|
Compare and contrast surge pricing and congestion pricing. Provide a specific example of each currently in use. view longer description |
48.3 to >43.46 pts Exemplary Compared and contrasted surge pricing and congestion pricing with real-world examples to enhance the comparisons. Provided a specific example of each currently in use. |
43.46 to >38.63 pts Competent Compared and contrasted surge pricing and congestion pricing with real-world examples to enhance the comparisons. |
38.63 to >33.8 pts Needs Improvement Compared or contrasted surge pricing and congestion pricing. Provided an example of one currently in use. |
33.8 to >0 pts Unacceptable Did not compare nor contrast surge pricing and congestion pricing. Did not provide an example of either currently in use. |
/ 48.3 pts |
|
Compare and contrast how the English auction and the Dutch auction, and the sealed bid first-price auction and the Vickery Auction, uncover value. Provide a specific example of how each uncovers value. view longer description |
48.3 to >43.46 pts Exemplary Compared and contrast how English and Dutch auctions and how sealed bid first-price and Vickery auctions uncover value. Provided a specific example of how each uncovers value. |
43.46 to >38.63 pts Competent Compared and contrasted how English and Dutch auctions and how sealed bid first-price and Vickery auctions uncover value. |
38.63 to >33.8 pts Needs Improvement Compared or contrasted how English and Dutch auctions and how sealed bid first-price and Vickery auctions uncover value. |
33.8 to >0 pts Unacceptable Did not compare nor contrast how English and Dutch auctions and how sealed bid first-price and Vickery auctions uncover value. |
/ 48.3 pts |
|
Analyze an actual auction employed by a state or federal government or an agency of a state or federal government and by a for-profit business. Explain what type of auction is employed and explain how the auction solves the problem of finding the best price for the good or service. view longer description |
46.2 to >41.57 pts Exemplary Analyzed an actual auction employed by a state or federal government or an agency of a state or federal government and by a for-profit business. Explained what type of auction is employed and explained how the auction solves the problem of finding the best price for the good or service. |
41.57 to >36.95 pts Competent Described an actual auction employed by a state or federal government or an agency of a state or federal government and by a for-profit business. Described what type of auction is employed and described how the auction solves the problem of finding the best price for the good or service. |
36.95 to >32.33 pts Needs Improvement Identified an actual auction employed by a state or federal government or an agency of a state or federal government and by a for-profit business. Identified what type of auction is employed but did not explain how the auction solves the problem of finding the best price for the good or service |
32.33 to >0 pts Unacceptable Did not analyze an actual auction employed by a state or federal government or an agency of a state or federal government and by a for-profit business. Did not explain what type of auction is employed and explain how the auction solves the problem of finding the best price for the good or service. |
/ 46.2 pts |
|
Explain how an auction to sell the Wells Fargo consumer-facing banking division might be used to determine the value of the division. Include a recommendation on what type of auction might be used. view longer description |
46.2 to >41.57 pts Exemplary Explained how an auction to sell the Wells Fargo consumer-facing banking division might be used to determine the value of the division. Included a detailed recommendation on what type of auction might be used. |
41.57 to >36.95 pts Competent Explained how an auction to sell the Wells Fargo consumer-facing banking division might be used to determine the value of the division. Included a brief recommendation on what type of auction might be used. |
36.95 to >32.33 pts Needs Improvement Identified how an auction to sell the Wells Fargo consumer-facing banking division might be used to determine the value of the division. Did not include a recommendation on what type of auction might be used. |
32.33 to >0 pts Unacceptable Did not explain how an auction to sell the Wells Fargo consumer-facing banking division might be used to determine the value of the division. Did not include a recommendation on what type of auction might be used |
/ 46.2 pts |
|
Include five required quality academic resources. view longer description |
10.5 to >9.45 pts Exemplary Included five required quality academic resources. |
9.45 to >8.4 pts Competent Included three to four academic resources, but the resources were not of a quality nature. |
8.4 to >7.35 pts Needs Improvement Included one to two quality academic resources. |
7.35 to >0 pts Unacceptable Resources were not provided, or the resources were not of a quality nature |
/ 10.5 pts |
|
Write a paper that is clear, includes appropriate writing mechanics, and follows SWS formatting requirements. view longer description |
10.5 to >9.45 pts Exemplary Writing has very few spelling, punctuation, and grammatical errors; few fragments, comma splices, and run-ons. 0–2 errors present. |
9.45 to >8.4 pts Competent Writing has spelling, punctuation, and grammatical errors that are distracting in a few places; few fragments, comma splices, and run-ons. 3–4 errors present. |
8.4 to >7.35 pts Needs Improvement Writing has spelling, punctuation, and grammatical errors that are distracting in some places. 5–6 errors present |
7.35 to >0 pts Unacceptable Writing has spelling, punctuation, and grammatical errors, fragments, comma splices and run-ons that distract from the message. More than 6 errors present. |
/ 10.5 pts |
|
Total Points: 0 |
Write a 5-7 page paper in which you:
6. Compare and contrast surge versus congestion pricing. Provide a specific example of each currently in use.
7. 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.
8. 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 service.
9. Read the
Letter from Senator Warren to Fed on Wells Fargo FHC StatusLinks to an external site.
[PDF].
· Explain how an auction to sell the Wells Fargo consumer-facing banking division might be used to determine the value of the division.
· Include a recommendation on what type of auction might be used.
10. Use five sources to support your writing, and include a minimum of three quality resources. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the
Library site
for all support. Check with your professor for any additional instructions.
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