This work deals with online auction. Domestic work is divided into four parts. In the first part, traditional auctions are defined in more detail. After the basics of the topic have been presented and the different auction types have been described, online auctions are worked out from this understanding in the second of this work and how online auctions deal with the traditional auctions Distinguish. In the third part of this work, different competitive markets are explained in order to deal with eBay. After the company was summarized, the fourth part of the work follows, where the German Auction Laws are discussed.
The auction is a popular way to put used items up for sale over the internet. Anyone who buys goods at an online auction will then be delivered via the shipping route. With 177 million active users, eBay is one of the largest and most dynamic online auction houses in the world. But eBay is far from the only online auction house. In addition to eBay, the best-known charts of online auctions include MyHammer and Hood.de, as well as many other auction platforms.
Table of Contents
1 About the Auction markets
1.1 What is an Auction
1.2 History of Auctions
1.3 Types of Auctions
1.3.1 English Auction
1.3.2 Dutch Auction
1.3.3 First-price sealed-bid auction or blind auction
1.3.4 Vickrey-Auction or Second Price Sealed Bid Auction
2 Online Auction
2.1 Development of the online auction
2.2 Differences between traditional auctions and online auctions
2.3 Creation of online auctions
3 Different Competition Markets
3.1 Competition
3.1.1 Perfect Competition Market
3.1.2 Monopolistic Competition
3.1.3 Oligopoly
3.1.4 Monopoly
3.2 The Online auction platform eBay
3.2.1 Company history and economic data
4 German laws of auctions
5 Conclusion
Research Objectives and Themes
This work aims to analyze the mechanisms of online auction platforms within the context of the Perfect Competition Market, with a specific focus on the operational model of eBay and the underlying legal framework in Germany.
- Theoretical definitions of traditional and electronic auction types.
- Comparative analysis of traditional versus online auction structures.
- Examination of various competitive market models including monopoly and oligopoly.
- Detailed business and economic history of the platform eBay.
- Legal regulations governing auctions within the German jurisdiction.
Excerpt from the book
1.1 What is an Auction
An auction represents a consumer-to-consumer sales situation in which a product or service is named a bidder by a prospective buyer, and bidding competitors buy at the highest possible price. Auctions can traditionally take place in an auction house as well as online on the internet. Auction goods include perishable products such as fruits, vegetables, fish and cut flowers, as well as wood, wine and much more. High-quality goods, which are usually offered in auction houses to private individuals on the one hand stamps, antiques, works of art but also pawned objects, objects from bankruptcies and used goods. (Hennig & Schneider, 2018)
Furthermore, an auction is specified by specific rules. For example, it determines what form the bids have, whether only one or more goods will be auctioned off, when they will be placed, how the winners of the existing bids will be determined, and what prices be collected by the winners. (Briskorn, 2018)
Summary of Chapters
1 About the Auction markets: Provides a fundamental definition of auction mechanisms and a historical overview of their development from antiquity to modern times.
2 Online Auction: Explores the emergence of digital auction platforms, detailing the differences between physical and electronic auctions and their general creation.
3 Different Competition Markets: Defines various economic competitive models, including perfect competition and monopoly, while applying these concepts to the business model of eBay.
4 German laws of auctions: Details the legal framework and regulations applying to auctions in Germany, specifically citing the role of the BGB.
5 Conclusion: Summarizes the growing importance of online auctions in the competitive market and reaffirms eBay's alignment with perfect competition criteria.
Keywords
Online Auction, eBay, Perfect Competition, Auction House, Bidding, Vickrey Auction, Dutch Auction, Market Competition, E-Commerce, German Auction Law, Digital Marketplace, Consumer Behavior, Business History, Price Determination, Auctioneer
Frequently Asked Questions
What is the primary focus of this work?
The work examines the role of online auction platforms, specifically eBay, within the theoretical framework of the Perfect Competition Market.
What are the central thematic areas covered?
The themes include the definition of auction types, the distinction between traditional and digital auctions, market competition theories, and the legal aspects of auctions in Germany.
What is the main research question or goal?
The goal is to understand how eBay functions as a competitive platform and how it aligns with economic models of competition and German legal standards.
Which scientific methodology is applied?
The research relies on literature analysis, comparative analysis of market models, and the examination of case-specific economic data and legal statutes.
What topics are addressed in the main body?
The main body covers historical auction developments, types of bidding (English, Dutch, etc.), the development of online auctions, competitive market types, and a case study of eBay.
Which keywords characterize this paper?
Key terms include Online Auction, eBay, Perfect Competition, Bidding, Digital Marketplace, and German Auction Law.
How does the author explain the success of eBay?
The author attributes eBay's success to the consistent implementation of a business model that connects millions of buyers and sellers globally, fostered by the rise of E-Commerce.
What does the text say about German auction laws?
The text notes that German auctions are governed by § 156 of the BGB, which dictates when a contract is formed and emphasizes that there is no formal apprenticeship for auctioneers, who instead operate under commercial trade codes.
- Citation du texte
- Angelika Brilz (Auteur), 2018, The online auction market eBay. Why is online auction a perfect competition market?, Munich, GRIN Verlag, https://www.grin.com/document/514055
