Abstract

I study a decision problem to maximize seller revenue under a two-dimensional buyer with multiple type space with private information. I consider the general case of a single seller with a single good to sell to buyers with private attribute values arriving over 2 time periods. The seller's problem is to determine the optimal time period of allocation. I use mechanism design theory to find an optimal policy for the seller and investigate structural conditions for the optimal seller policy. This paper aims to show that there are tractable and relatively simple ways to deal with multidimensional type space in Revenue Management problems through the application of mechanism design.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.