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- W2149454739 abstract "A seller has an uncertain number of perishable goods to sell in each period. Privately informed buyers arrive stochastically to the market. Buyers are risk neutral, patient, and have persistent private values for consuming a single unit. We show that the seller can implement the efficient allocation using a sequence of ascending auctions. The buyers use memoryless strategies to reveal all private information in every period, inducing symmetric behavior across different cohorts. We extend our results to revenue maximization, showing that a sequence of ascending auctions with asynchronous price clocks is an optimal mechanism." @default.
- W2149454739 created "2016-06-24" @default.
- W2149454739 creator A5039682151 @default.
- W2149454739 date "2012-01-01" @default.
- W2149454739 modified "2023-09-25" @default.
- W2149454739 title "Auctions with Dynamic Populations: Efficiency and Revenue Maximization" @default.
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- W2149454739 doi "https://doi.org/10.2139/ssrn.1296455" @default.
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