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Auctions

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While auctions can be a means to acquiring a price point I don't feel that auctions can be used in all cases regarding e-business. When you look at pricing parity and currency exchanges, auctions might have a hard time setting a true price point. What could probably work is to use the Big Mac Index to initially set a bottom in price and develop an auction that goes from there. Setting up an auction that takes these measures into account can ensure that the seller will be properly compensated. What you don't want in an auction is a bid under the true value of the product just to drive down the price. Collusion is something that can become a possibility with certain industries especially where there is extreme competition. I'm not really sure if auctions are really going to be a standard that is followed in e-business.

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The expert examines auctions for the means to acquire a price point. The solution provides a brief response to the posting.

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I think auctions have their place in e-business, but are not going to be the primary model. There are many types of products or services where this just ...

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