Learn how to price your products and services with psychological tricks– Anchoring and The Decoy Effect
Last December, Bloomberg reported that California water futures are now a tradeable commodity on Wall Street. The idea behind this is that it allows farmers and municipalities to hedge the uncertainty of water prices in the future, as they should be able to budget for the resource more accurately.
How the National Hockey League (NHL) managed to create a level playing field for their teams
Whether you are a football fan or not, you will no doubt have heard about the farce of the Super League in spring – where twelve well-known football clubs from England, Spain and Italy established a new football association, but it collapsed within 48 hours.
When you hear the word "auction", the first thing you might probably think of are names like Sotheby's or Christie's, two auction houses that are particularly well known for selling art. However, there are numerous examples, where revenue maximisation is not the main motive of an auction.
In this second part, we will explain how the dynamics of a next tender process might also have some undesirable outcomes.