Keyword: auction
How Much Is Anything Worth? (7/7/2006)
Price must cover cost for business survival but its level above cost varies with the product life cycle.
Keywords: auction, commodity, consumer surplus, innovative products, Price, price determination, product life cycle, production cost, profit
The Market Role of Information (7/7/2006)
Information or the lack of it may make or break a market.
Keywords: adverse selection, Asymmetric information, auction, efficiency, free trials, insurance, market signaling, quality, risk, warranty