Executive Summary
On December 1, 2024, the E-Cell, in collaboration with the Institution’s Innovation Council (IIC), organized the IIC IPL Mock Auction. This high-fidelity simulation served as a pedagogical tool for teaching strategic negotiation, budget management, and data-driven decision-making.
Participants operated within a "Closed-System Market," where student teams managed virtual capital to build competitive rosters. The team representing Rajasthan Royals emerged as winners, demonstrating superior financial discipline and roster balancing.
Core Learning Objectives
- Asset Valuation: Determining intrinsic value vs. market-driven prices.
- Budgetary Constraint: Strategic allocation of finite virtual cash.
- Risk Mitigation: Using data analytics to avoid the "Winner's Curse" (overpaying).
- Team Dynamics: Real-world corporate roles: Negotiators, Financial Analysts, and Data Analysts.
Operational Strategies Observed
The venue was transformed into a "War Room" environment. Teams utilized specialized Auction Management Software and manual logs to execute strategies such as Shadow Bidding (driving up rival prices) and the Wait-and-Watch strategy (saving capital for high-value uncapped players).
Event Details
Date: December 1, 2024
Organizer: E-Cell & Institution’s Innovation Council (IIC)
Venue: MET Bhujbal Knowledge City, Nashik
Winning Team: Rajasthan Royals (Student Delegation)