ISC301 276-300

Dynamic pricing refers to :

• prices that are negotiate
• prices that are regulated by government agencies.
• prices that maximize revenue.
• prices that are determined by market forces.

... work best with many buyers and many sellers.

• Bartering
• Dynamic exchanges
• Forward auctions
• Reverse auctions

The process of building auction applications is complex for all of the following reasons EXCEPT:

• auctions must be integrated with the back-end offices
• auctions must provide payment systems
• the number of needed features can be very large
• auctions must be integrated with the legacy systems of participating companies

Two purposes of a types of auctions are liquidation and market efficiency

• one-buyer, one-seller
• one seller, many potential buyers
• one buyer, many potential sellers
• many buyers, many sellers

The auction model is popular in B2

• one-buyer, one-seller
• one seller, many potential buyers
• one buyer, many potential sellers
• many buyers, many sellers

Reverse auctions are a type of auctions.

• one-buyer, one-seller
• one seller, many potential buyers
• one buyer, many potential sellers
• many buyers, many sellers

he "name-your own-price" model pioneered by Priceline.com is a type of auction.

• one-buyer, one-seller
• one seller, many potential buyers
• one buyer, many potential sellers
• many buyers, many sellers

Auctions done in exchanges or double auctions are auctions.

• one-buyer, one-seller
• one seller, many potential buyers
• one buyer, many potential sellers
• many buyers, many sellers

"Jackie uses a software system to place bids automatically on her behalf until her predetermined maximum price is reache The software bids in such a way as to minimize the final bi This is referred to as:"

• proxy bidding
• pricing agents
• sniping
• bidding agents

"Bidders sometimes use phantom bidders to drive bid prices up rapidly at the beginning of an auction, thus discouraging bidding from legitimate bidders. At the last minute, the phantom bidders pull out, which awards the item to a very low bidding customer. This practice is called:"

• bid shielding
• sniping
• bid fixing
• shilling