Online Auction

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Pre-written Papers:

Title: Online Auction

Essay Details:

Subject: Miscellaneous

Author: Alex L

Date: September 22, 2014

Level: University

Grade: A

Length: 14 / 4003

Essay text:

The Internet has dramatically changed how people see and buy goods. Millions of globally dispersed consumers now engage in competitive exchange via bidding and can set prices that reflect real-time supply and demand as efficiently as any trading floor. The physical limitations of traditional auctions such as geography, presence, time, space, and a small target population virtually disappear in online settings. The Internet provides a critical mass of consumers located on different continents, who could, with a click of their mouse buttons, participate simultaneously in multiple auctions. Participants are also relieved of the social awkwardness and time-consuming nature of face-to-face haggling?many simply automate their bidding, letting the computer take care of negotiation...

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