منابع مشابه
Managing Strategic Buyers∗
We consider the problem of a monopolist who must sell her inventory before some deadline, facing n buyers with independent private values. The monopolist posts prices but has no commitment power. The seller faces a basic trade-off between imperfect price discrimination and maintaining an effective reserve price. When there is only one unit and only a few buyers, the seller essentially posts una...
متن کاملManaging Switching Costs in Multiperiod Procurements with Strategic Buyers*
This paper examines the use of switching costs by long-lived strategic buyers to manage dynamic competition between rival suppliers. The analysis reveals how buyers may employ switching costs to their advantage. We show when switching costs are high a buyer may induce suppliers to price more competitively by credibly threatening to replace the incumbent supplier with his rivals. The implication...
متن کاملPrice Experimentation with Strategic Buyers∗
There are many situations in which buyers have a significant stake in what a firm learns about their demands. Specifically, any time that price discrimination is possible on an individual bases and repeat purchases are likely, buyers possess incentives for strategic manipulation of demand information. A simple two-period model in which a monopolist endeavors to learn about the demand parameter ...
متن کاملRevenue Optimization against Strategic Buyers
We present a revenue optimization algorithm for posted-price auctions when facing a buyer with random valuations who seeks to optimize his -discounted surplus. In order to analyze this problem we introduce the notion of ✏-strategic buyer, a more natural notion of strategic behavior than what has been considered in the past. We improve upon the previous state-of-the-art and achieve an optimal re...
متن کاملOnline Pricing with Strategic and Patient Buyers
We consider a seller with an unlimited supply of a single good, who is faced with a stream of T buyers. Each buyer has a window of time in which she would like to purchase, and would buy at the lowest price in that window, provided that this price is lower than her private value (and otherwise, would not buy at all). In this setting, we give an algorithm that attains O(T2/3) regret over any seq...
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 2011
ISSN: 0022-3808,1537-534X
DOI: 10.1086/660902