We design a non-clairvoyant dynamic mechanism under budget and ex-post individual rationality constraints that is dynamic incentive-compatible and achieves non-trivial revenue performance, even without any knowledge about the future. In particular, our dynamic mechanism obtains a constant...

Dynamic mechanism design expands the scope of allocations that can be implemented and the performance that can be attained compared to static mechanisms. Even under stringent participation constraints and restrictions on transfers, recent work demonstrated that it is possible for a designer to...

Dynamic mechanisms offer powerful techniques to improve on both revenue and efficiency by linking sequential auctions using state information, but these techniques rely on exact distributional information of the buyers' valuations (present and future), which limits their use in learning...

We introduce a new family of dynamic mechanisms that restricts sellers from using future distributional knowledge. Since the allocation and pricing of each auction period do not depend on the type distributions of future periods, we call this family of dynamic mechanisms non-clairvoyant.We...

Dynamic mechanisms are a powerful technique in designing revenue-maximizing repeated auctions. Despite their strength, these types of mechanisms have not been widely adopted in practice for several reasons, e.g., for their complexity, and for their sensitivity to the accuracy of predicting...

We consider a setting in which potential buyers of an indivisible item have private and heterogeneous valuation and cost of capital. The valuation and cost of capital can be correlated with each other, but they are independent across buyers. In such a setting, a buyer's utility for the item is...

We study the dynamic mechanism design problem of a seller that repeatedly auctions independent items over a discrete time horizon to buyers that face a cumulative budget constraint. A driving motivation behind our model is the emergence of real-time bidding markets for online display advertising...

We consider a principal who repeatedly interacts with a strategic agent holding private information. In each round, the agent observes an idiosyncratic shock drawn independently and identically from a distribution known to the agent but not to the principal. The utilities of the principal and...