10 Jun EXPLAIN WHY IN THIS SETTING DUTCH AUCTION IS A GOOD CHOICE, WHILE ENGLISH AUCTION IS NOT.
Question 1: Dutch auction and English auction have been introduced in the lecture. These auctions can be used to select suppliers in a supply chain setting.
Describe a service supply chain setting, in which, Dutch auction (rather than English auction) can be used by a service provider to sell services to customers.
Explain why in this setting Dutch auction is a good choice, while English auction is not.
Provide step by step procedure regarding how a Dutch auction is applied in this setting.
Question 2: Vickery auction has been introduced in the lecture. It can be used to select suppliers to provide products and services.
Describe a supply chain setting, in which, Vickery auction (rather than a reverse English auction) can be used to select suppliers.
Explain why in this setting Vickery auction is a good choice, while a reverse English auction is not.
Provide step by step procedure regarding how a Vickery auction is applied in this setting.
Question 3: Airport time slot can be seen as a service to airlines. Read the attached article and answer the following questions based on the information provided by the article.
Why a combinatorial auction should be used to allocate time slots to airlines?
Describe the step by step auction procedure proposed by the article.
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