Abstract
We consider dynamic communication mechanisms in a quasi-linear environment with single-dimensional types. The mechanism designer gradually identifies agents’ valuations by iteratively offering prices to agents at different stages. Agents pay the maximum price they accepted if their desirable decision is made. We show that within weakly tight mechanisms, if a communication mechanism is ex-post incentive compatible, then it is a monotone-price mechanism. English auctions are characterized as a class of mechanisms that satisfy ex-post incentive compatibility and efficiency.
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