Differentiate Between Auctions and Clearinghouses

question 36

Essay

Differentiate between auctions and clearinghouses.

---

Definitions:

Algorithms

Step-by-step procedures or formulas for solving problems or completing tasks.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making and problem-solving.

Logarithms

The mathematical operation that determines the power to which a base number is raised to obtain a certain value.

Convergence

Binocular depth perception cue; the rotation of the two eyes in their sockets to focus on a single object, resulting in greater convergence for closer objects and lesser convergence if objects are distant.