One of the most efficient ways of value exchange is auction. Traditionally, the problem has been that the auction "marketplace" is not efficient. For example, information about an upcoming auction is not available to potential bidders/buyers so only a limited number turn up for it. The internet has provided good tools to solve this problem - not 100% efficient but getting there.
What is the place for internet auction in your business model? Can internet auction be used for some of your internal processes such as procurement of potential candidates for employment or suppliers for services? What are the platforms available for internet based auctions? What are some of the key auction markets?
This presentation provides an overview of key auction models. It discusses the purpose and value of Internet auction pricing, Internet auction models and provides insight into designing efficient mechanisms for internet based auctions to augment your business model. It is a good place to start your analysis of internet based auction models and their applicability to your business model.
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