What are the benefits of auction markets in E- Commerce?
The solution is attached.
List and briefly explain three of the benefits of auction markets.
The benefits of auction markets are (Laudon & Traver, 2011):
1. Liquidity: Auction markets enable sellers and buyers to get connected in a global marketplace. This sets up an excellent opportunity for buyers and sellers to perform business in a single marketplace.
2. Price discovery: Even difficult to price items can be competitively priced based on supply and demand. The ...
E-Commerce auction markets provide several advantages for both buyers and sellers. This solution states some of the key benefits of e-commerce auction markets.