NPTEL E-Business Week 12 Assignment Answers 2024
1. An antique furniture is being sold using auction. I being a government employee with limited salary may not be participating in the auctions. But, the persons with money such as successful business men would definitely participate. Of course, all such participants expectations are different and so also the valuation. Therefore, to model the bidders’ behavior, the auctioneer must adopt a ________________model.
a. Private value
b. Common value
c. Interdependent Value
d. Public goods
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2. An antique furniture is being sold using auction. I being a goverment employee with limited salary may not be participating in the auctions. But, the persons with money such as successful business men would definitely participate. Of course, all such participants expectations are different and so also the valuation. In this setting, the auctioneer usually follows English auction mechanism. Since in such a basic setting, both English Auction and First price auction would be optimal, the expected profit can be computed using a ____________.
a. Bayesian game
b. Board game
c. Sequential game
d. Minimax game
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3. Revenue equivalence theorem proves that, all the basic auction formats (first price, second price and English) are efficient and generate same revenue under the following assumption
a. Bidder’s values are independent and identical random variables
b. Bidders are risk neutral
c. They show no collusion or predatory behavior
d. All of the above
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4. The phenomena of winner paying too much, due to failure of anticipating the bidding strategy of others and correcting his/her own bid is called
a. Winner’s curse
b. Bid shaving
c. Signalling failure
d. Interdependency model failure
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5. In a single-item, single-unit, single winner, reverse auction with price only bids has the following
entries: (A, 300),(B, 250),(C, 350).,(D, 245)
In each entry the first element is the bidder and the second element is the bid value. If the auction
follows second price mechanism for winner determination, who will be the winner and how much will he/she will be paid.
a. B, 250
b. B, 245
c. C, 350
d. C, 300
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6.
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7. The price schedule for volume discount bids has the following form
a. Per unit price for the quantities in some consecutive intervals.
b. It is a continuous function that maps from quantity to price.
c. It is a table of desirable quantities to be purchased together with the price offer.
d. Total price of a combination of items to be purchased together.
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8. If a reverse auction is designed to have multiple winners it is an example of
a. Group sourcing
b. Multi-sourcing
c. Indirect purchasing
d. Risk neutral sourcing
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9. Web-based exchanges has transactions with
a. Single buyer single seller
b. Single buyer multiple seller
c. Multiple buyer single seller
d. Multiple buyer multiple seller
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10. Which of the following is a reasons for online auction fraud?
a. Cheap pseudonyms
b. Greater information asymmetry
c. Lack of personal contact
d. All of the above
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