Virtual Auction Simulation Engine
Faculty Author: Ravi Aron
Students participate in a variety of auctions and learn how each can be used as a strategic pricing tool
- About VASE
- More Details
- Administrative Tools
The Virtual Auction Simulation Engine (VASE) provides students with a firsthand
experience of what it's like to compete in an online auction. It sets the stage for a range of
learning experiences and class discussions around auction concepts such as information asymmetry,
forward and reverse aggregation, and competition.
Using VASE, students can explore a variety of auction types, structures, and mechanisms, including open and sealed bidding, ascending and descending bid devices, and forward and reverse auctions. In combination with in-class lectures and discussions, Wharton students learn how such auctions are organized, how they operate, and how to use them as a strategic pricing tool.