Internet Auctions

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Title: Internet Auctions

Essay Details:

Subject: Business

Author:

Date: December 26, 2016

Level: University

Grade: A

Length: 9 / 2418

Essay text:

This can take place in several forms, in a traditional exchange of money for a product or service, or in an auction. With the development of the internet, the online auction was created and the first one started operating in 1995 (Pinker, Seidmann and Varkant, 2003). In traditional auctions, as well as on the online auction market, buyers bid to get the lowest possible price, while sellers offer their products to get the highest reservation price of the buyer. Indeed this seems paradoxical at first sight, but auction houses and especially internet auctions are, and tend to become even more successful...

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