Q 1. There are many types of auctions each with strengths and weakness at uncovering the real price/value of an item. Compare and contrast: a) the English and Dutch auctions; and, b) the sealed bid first price auction and the Vickery Auction. 2. After many months of offers and counter offers for Sky PLC, the UK’s The Takeover Panel (http://www.thetakeoverpanel.org.uk/) required that Sky PLC be acquired via an auction. What type of auction was the Sky auction, who were the bidders and who won? Given that there had been multiple public offers revealed by the bidders, was the auction type selected the best type of auction for the Sky acquisition? 3. Auctions are widely used in finance, e-commerce and in e-games. Identify 3 applications of auctions used in finance, e-commerce and/or e-games. Explain the: a) need for an auction in the product/service; and b) what type of auction is used and why that type of auction is appropriate for the product/service. 4. Auctions are also widely used to generate revenue for not-for-profit organizations. What are the advantages/disadvantages of auctions as revenue generators for not-for-profit organizations? 5. Suggest ways in which the company you work for, or the company which you aspire to work for, can use auctions to better uncover value and increase revenue.