Lecture Electronic commerce - Chapter 10: Dynamic Trading: E-Auctions, Bartering and Negotiations learning objectives: Define the various types of e-auctions and list their characteristics. Describe forward and reverse auctions. Describe the benefits and limitations of e-auctions. Describe some unique e-auction models. Describe the various services that support e-auctions. | Chapter 10 Dynamic Trading E-Auctions Bartering and Negotiations 2008 Pearson Prentice Hall Electronic Commerce 2008 Efraim Turban et al. Learning Objectives 1. Define the various types of e-auctions and list their characteristics. 2. Describe forward and reverse auctions. 3. Describe the benefits and limitations of e- auctions. 4. Describe some unique e-auction models. 5. Describe the various services that support e- auctions. 10-2 Learning Objectives 6. Describe bartering and negotiating. 7. Describe the hazards of e-auction fraud and discuss possible countermeasures. 8. Describe e-auction deployment and implementation issues. 9. Analyze mobile and future directions of e-auctions. 10-3 Fundamentals of Dynamic Pricing and E-Auctions auction Market mechanism by which buyers make bids and sellers place offers characterized by the competitive and dynamic nature by which the final price is reached electronic auctions e-auctions Auctions conducted online 10-4 Fundamentals of Dynamic Pricing and E-Auctions dynamic pricing Fluctuating prices that are determined based on supply and demand relationships at any given time 10-5 Fundamentals of Dynamic Pricing and E-Auctions 10-6 Fundamentals of Dynamic Pricing and E-Auctions One Buyer One Seller One Seller Many Potential Buyers forward auction An auction in which a seller offers a product to many potential buyers sealed-bid auction Auction in which each bidder bids only once a silent auction in which bidders do not know who is placing bids or what the bid prices are Vickrey auction Auction in which the highest bidder wins but pays only the second highest bid 10-7 Fundamentals of Dynamic Pricing and E-Auctions One Buyer Many Potential Sellers reverse auction Auction in which the buyer places an item for bid tender on a request for quote RFQ system potential suppliers bid on the job with bid price reducing sequentially and the lowest bid wins used mainly in B2B and G2B e-commerce 10-8 Fundamentals of Dynamic Pricing and .
