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We examine an environment where objects and privately-informed buyers arrive stochastically to a market. The seller in this setting faces a sequential allocation problem with a changing population. We characterize the set of incentive compatible allocation rules and provide a generalized revenue...
Persistent link: https://www.econbiz.de/10015216671
We examine an environment where objects and privately-informed buyers arrive stochastically to a market. The seller in this setting faces a sequential allocation problem with a changing population. We characterize the set of incentive compatible allocation rules and provide a generalized revenue...
Persistent link: https://www.econbiz.de/10015216708
We study a setting where objects and privately-informed buyers arrive stochastically to a market. A seller in this setting faces a sequential allocation problem with a dynamic population. We derive both efficient and revenue-maximizing incentive compatible direct mechanisms. Our main result...
Persistent link: https://www.econbiz.de/10015217921
We study indirect mechanisms in a setting where both objects and privately-informed buyers arrive stochastically to a market. The seller in this setting faces a sequential allocation problem, and must elicit the private information of the dynamic population of buyers in order to achieve her...
Persistent link: https://www.econbiz.de/10015222321
We model new experience goods in the context of dynamic mechanism design. These are goods for which an agent is unsure of her valuation but can learn it through consumption experience. We consider a dynamic environment with a single buyer and seller in which contracting occurs over T periods,...
Persistent link: https://www.econbiz.de/10015266588
We examine an environment where goods and privately informed buyers arrive stochastically to a market. A seller in this setting faces a sequential allocation problem with a changing population. We characterize the set of incentive compatible allocation rules and provide a generalized revenue...
Persistent link: https://www.econbiz.de/10015268575
We analyze a dynamic market in which buyers compete in a sequence of auctions. New buyers and objects may arrive at random times. Buyers' private values, however, are not persistent. Instead, buyers draw new values in every period; equivalently, objects are heterogeneous but are drawn from the...
Persistent link: https://www.econbiz.de/10015216672
Often an auction designer has the option of selling, or purchasing, those lots available in one auction or a sequence of auctions. In addition, bidder opportunities will not be static, in part due to arrival of information, but also because bidders can face deadlines for making decisions. This...
Persistent link: https://www.econbiz.de/10015226409
We examine a model in which multiple buyers with single-unit demand are faced with an infinite sequence of auctions. New buyers arrive on the market probabilistically, and are each endowed with a constant private value. Moreover, objects also arrive on the market at random times, so the number...
Persistent link: https://www.econbiz.de/10015260759
I study affirmative action subcontracting regulations in a model where governments use auctions to repeatedly procure goods and services at the lowest possible price. Through using disadvantaged subcontractors, prime contractors build relationships over time, resulting in lower subcontracting...
Persistent link: https://www.econbiz.de/10015263648