#32unit 2online auctions
Introduction
Overview of online auctions and dynamic pricing.
Unit 2Online AuctionsTopic #32Published
Introduction
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Online auctions are used throughout the e-commerce landscape. The most widely known are consumer-to-consumer (C2C) auctions where the auction house is an intermediary market maker. Less well known are business-to-consumer (B2C) auctions where a business uses dynamic pricing. eBay is the market leader in C2C auctions.
- Define an online auction and its role in e-commerce.
- Distinguish C2C auctions from B2C auctions.
- Identify eBay as the market leader in C2C auctions.
- Understand auctions as a way of allocating resources among bidders.