Discussion Room was held by the Economics Study Program of FEB UNUD regarding “Discovering Price” by Paul Milgrom.

Friday (30/9) an Economic Discussion Room was held by the Economics Study Program of FEB UNUD regarding “Discovering Price” by Paul Milgrom.

 

 

 

In this activity, a book review was brought by Lecturers of the Economics Undergraduate Study Program FEB UNUD, namely I Wayan Priyana Agus Sudharma, moderated by Ni Kadek Eka Jayanthi.

 

 

 

 

 

 

 

This discussion also discusses a case study on the bidding model to assist in efficient resource allocation by I Made Endra Kartika Yudha and a case study on the auction mechanism and price compatibility in the auction process by Wayan Hari Premananda.

 

 

 

 

 

 

Criticizing the traditional theory in the market mechanism, namely the existence of invisible hands. In this case, the auction system is considered capable of determining prices effectively and efficiently. The role of the government and Subak is very important in helping to solve the problem of land conversion and regulate the contribution and ensure the rules of the game run well. This is because there are risks that may occur, for example the risk of default, the risk of unbalanced negotiations that can harm one. Liquidation value can involve a seller who is not interested in selling, and a buyer who buys knowing the situation is not in the seller's favor.