This paper studies the optimal mechanism for a seller (she) that sells, in a sequence of periods, an indivisible object per period to the same buyer (he). Buyer's willingness to pay remains constant along time and is his private information. The seller can commit to the current period mechanism...

This paper studies the optimal mechanisms for a seller with imperfect commitment who puts up for sale one individual unit per period to a single buyer in a dynamic game. The buyer's willingness to pay remains constant over time and is his private information. In this setting, the seller cannot...