Two firms produce substitute goods with unknown quality. At each stage the firms set prices and a consumer with private information and unit demand buys from one of the firms. Both firms and consumers see the entire history of prices and purchases. Will such markets aggregate information? Will...

We study a duopoly where the two price setting firms have symmetric information. The firms produce substitute goods with a state dependent common value. The information that is available to both firms about the unknown state of nature is also available to the consumers, who also have access to...

We consider a dynamic market with two firms that sell competing common-value products. The firms offer both products to an infinite set of rational consumers. Each consumer observes a conditionally independent and identically distributed private signal about the product qualities. Consumers...

We study a monopolist that uses the following scheme to gauge market traction for its common-value, excludible product. The monopolist offers its product at a given price, and each potential consumer decides whether to buy it. The contributions are collected. The product is supplied only if the...

We analyze the firm-external effects of dynamic prices in a sequential market with a monopolistic firm. The product is offered to an infinite sequence of rational consumers each of whom observes a private signal regarding the product quality. We show that dynamic prices are necessary for...

It is unclear how to perform ownership restructuring when an asset is privately held and there is uncertainty as to the owners' subjective valuations. When ownership is divided equally between two owners, a mechanism commonly used in practice is called a BMBY mechanism. This mechanism works as...

Two firms produce substitute goods of unknown quality. At each stage the firms set prices and a consumer with private information and unit demand buys from one of the firms. Both firms and consumers see the entire history of prices and purchases. Will such markets aggregate information? Will the...