Fundamentals of Dynamic Pricing and E-Auctions One Buyer, Many Potential Sellers B2B Reverse Auctions C2C Reverse Auctions “ Name-Your-Own- Price” Model “ name-your-own- price” model Auction model in which would-be buyers specify the price (and other terms) they are willing to pay to any willing seller, a C2B model, pioneered by priceline. com Electronic Commerc Prentice Hall 2006Electronic Commerce Prentice Hall © 2006 10 Fundamentals of Dynamic Pricing and E-Auctions • One Buyer, Many Potential Sellers – B2B Reverse Auctions – C2C Reverse Auctions – “Name-Your-Own-Price” Model “name-your-own-price” model Auction model in which would-be buyers specify the price (and other terms) they are willing to pay to any willing seller; a C2B model, pioneered by Priceline.com