We consider a seller who wishes to sell K goods by time T. Potential buyers enter IID over time and are forward-looking, so can strategically time their purchases. At any point in time, profit is maximized by awarding the good to the agent with the highest valuation exceeding a cutoff. These...

This paper characterizes the distribution of jobs in a relational contracting model where underemployed workers compete with unemployed workers in the job market. Such on-the-job search increases turnover and thereby the marginal costs to incentivize effort. This leads firms to replace permanent...