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Write a 5-7 page paper in which you: 1. Compare and contrast surge versus congestion pricing. Provide a specific example of each currently in use. 2. There are many types of auctions, each with strengths and weaknesses in uncovering the real price/value of an item. Compare and contrast how each of t…
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Write a 5-7 page paper in which you:
1. Compare and contrast surge versus congestion pricing. Provide a specific example of each currently in use.
2. There are many types of auctions, each with strengths and weaknesses in uncovering the real price/value of an item. Compare and contrast how each of the following uncovers value **and** provide a specific example of how each uncovers value:
– The English auction and the Dutch auction.
– The sealed-bid first-price auction and the Vickery Auction.
3. Auctions are widely used. Analyze an actual auction employed by each of the following:
– A state or federal government or an agency of a state or federal government.
– A for-profit business.
– For each, explain what type of auction is employed and how the auction solves the problem of finding the best price for the good or service.
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