Questions:

1. Record the current high bids for 3 of the new computer hardware items that are scheduled for sale within the next 24 hours at the eBay web site.
2. Look up the current best retail prices for these items using the Price Watch page.
3. Do the auction prices appear to be converging to the low retail prices? Are they higher or lower?
4. If these prices differ substantially, why might this be the case?
5. As people become more aware of the resouces offered on the internet, what might you expect to see happen to price dispersion for particular commodities?