We explore existence and properties of equilibrium when N ≥ 2 bidders compete for L ≥ 2 objects via simultaneous but separate auctions. Bidders have private combinatorial valuations over all sets of objects they could win, and objects are complements in the sense that these valuations are...

The paper analyzes a durable goods monopoly problem in which multiple varieties can be sold. A robust Coase conjecture establishes that the market eventually clears, with profits exceeding static optimal market-clearing profits and converging to this lower bound in all stationary equilibria with...

We explain why a durable-goods monopolist would like to create a shortage in the marketplace.We argue that this incentive arises from the presence of a second-hand market and uncertainty about consumers' willingness to pay for the good. Consumers are heterogeneous in their valuations. Moreover,...

The paper provides conditions to identify the discount factor(s) and utility function in a infinite-horizon dynamic discrete choice model variation in choice sets over time. We show that if current choices or states are informative about the choice set the agent will face in the future, then the...

This paper studies the non-parametric identification of the discount factor and utility function in the class of dynamic discrete-continuous choice (DDCC) models. In contrast to the discrete-only model we show the discount factor is identified. Our results further highlight why Euler equation...

This paper specifies and estimates a structural dynamic model of consumer demand for new and used durable goods. Its primary contribution is to provide an explicit estimation procedure for transaction costs, which are crucial to capturing the dynamic nature of consumer decisions. In particular,...

The focus of the present work is to study the impact of the second-hand market the collusive behavior. I analyze firms' preferences for having an active second-hand market and whether policies (i.e. leasing policy, buy-back policy and warranty policy) that affect the functioning of the...

We study the identification of intertemporal preferences in a stationary dynamic discrete decision model. We propose a new approach which focuses on problems which are intrinsically dynamic: either there is endogenous variation in the choice set, or preferences depend directly on the history....

A decision maker offers a new product to a fixed number of adopters. The decision maker does not know the value of the product while adopters receive some private information about the value. We study how the decision maker may influence learning among adopters by manipulating the launch...