#33unit 2online auctions
Defining and measuring the growth of auctions and dynamic pricing
How auctions and dynamic pricing expand and are measured.
3D Learning World
Interactive Visualizations
Topic Diagrams
Dynamic pricing mechanisms
The main forms of dynamic pricing enabled by the Internet.
Dynamic pricing has three main forms: auctions (buyers bid, highest wins, e.g. eBay), surge pricing (prices rise with demand, e.g. Uber), and flash marketing (time-limited offers, e.g. travel and luxury goods). All are enabled by the Internet's low menu costs and real-time capability.
Explanation: Dynamic pricing has three main forms: auctions (buyers bid, highest wins, e.g. eBay), surge pricing (prices rise with demand, e.g. Uber), and flash marketing (time-limited offers, e.g. travel and luxury goods). All are enabled by the Internet's low menu costs and real-time capability.