RULE BOOK

1) Each Team will start with Rs.500

2) Each team is assigned an industry which will play a significant role in
your overall scores. Dont reveal your industry to any other teams.
3) For point calculation, teams winning the bid will be provided
Points = Base price of the product (if product is of assigned
industry)
Points = 0.8 * Base price of the product (if product is of different
industry)
4) There are total 40 products to be auctioned equally divided into 4
industries. Every product will have base price range from 10-100 {10, 20,
, 100}
5) Bidding is mandatory in closed Bid Auction
6) In units bidding for some auctions, the product will be divided into 10
units and base price will also be one-tenth of the actual base price for
each unit.
7) The money left at the end of the game will also play a key role:
Money left/10 will be added to the final points of the team.

Bidding System: -
1) We will follow 4 auction styles in the mentioned order:
Open Auction (8 Products)
Dutch Auction (12 Products)
Discriminatory price auction (12 Products)
Vickery Auction (8 Products)

2) In Open Auction, the immediate bid should be higher by at least Rs.5

Though all the types of the actions mentioned will be explained briefly at
the start of the game, but a little preparation beforehand might do better.