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• W4255530723 abstract "Extending the Revelation Principlé to a case in which it is costly for the principal to communicate with any agent, we show that there is a sequential direct mechanism that is optimal in the class of all mechanisms. We then apply this result to the problem of a monopsonist seeking to buy an indivisible good from one of a set of possible sellers with unobservable production costs. With costly communication, the monopsonist's optimal procurement mechanism is a combination of reservation-price search and auction." @default.
• W4255530723 created "2022-05-12" @default.
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• W4255530723 date "1988-02-01" @default.
• W4255530723 modified "2023-10-16" @default.
• W4255530723 title "Search mechanisms" @default.
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• W4255530723 doi "https://doi.org/10.1016/0022-0531(88)90098-1" @default.
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