In an environment with dynamic arrivals of players who wish to purchase only one of multiple identical objects for which they have a private value, we analyze a sequential auction mechanism with an activity rule. If the players play undominated strategies then we are able to bound the efficiency...

We study an incomplete information mechanism design problem with three peculiarities. First, access to agents’ private information is costly and unobservable. Second, the mechanism may communicate sequentially with the agents. Third, the mechanism designer and all the agents share a common...

A central result in the rational learning literature is that if the true measure is absolutely continuous with respect to the beliefs then, given enough data, the updated beliefs merge with the true distribution. In this paper, we show that, under absolute continuity, weak merging occurs fast...