Information Economics

In order to complete this assignment, you must begin by identifying an information system used by an organisation with which you are familiar.The first step is to identify the organisation: you are most likely to choose an organisation in which you are currently or have previously been employed. However, this is not compulsory: you are free to choose a different organisation if you feel you know enough about it.The second step is to identify an information system used by your…

There are many types of auctions, each with strengths and weaknesses at uncovering the real price or value of an item. Auctions are widely used in finance, e-commerce, and e-games. They are also widely used to generate revenue for not-for-profit organizations. The following video describes auctions as price discovery mechanisms:The Ideal Auction. Use the video on auctions and at least three academic or high-quality business publications to compare and contrast English auctions and Dutch auctions, and sealed-bid first-price auctions and…