It is well-known that optimal (i.e., revenue-maximizing) selling mechanisms in multidimensional type spaces may involve randomization. We obtain conditions under which deterministic are for two identical, indivisible objects to a single buyer. analyze settings: (i) decreasing marginal values (DMV) and (ii) increasing (IMV). Thus, the of buyer units not independent. show condition on distributio...

Consumers may overestimate the precision of their demand forecasts. This overcon…dence creates an incentive for both monopolists and competitive …rms to o¤er tari¤s with included quantities at zero marginal cost, followed by steep marginal charges. This matches observed cellphone service pricing plans in the US and elsewhere. An alternative explanation with common priors can be ruled out in fav...

Advanced Cell Technologies, based in Worcester, Massachusetts, have developed a new procedure to create 'ethical' human embryonic stem cells, by removing single cells from early embryos in such a way that the remaining cells still remain viable. Considering the fact that the embryos in question are 'leftovers' from IVF that will be destroyed anyway, some observers have questioned the relevance ...

For the assignment game, we propose the following selling mechanism: sellers, simultaneously, fix their prices first; then buyers, sequentially, decide which object to buy, if any. The first phase of the game determines the potential prices, while the second phase determines the actual matching. We prove that the set of subgame perfect equilibria in pure strategies in the strong sense of the me...

Data were collected from 15 Arkansas livestock auctions to determine factors affecting selling price. Data included how calves were sold (single or groups), sex, breed or breed type, color, muscle thickness, horn status, frame score, fill, body condition, age, health, BW, and price. Data were randomly collected on 52,401 lots consisting of 105,542 calves. Selling prices for steers ($124.20 +/- ...

Considering a positive portfolio diffusion X with negative drift, we investigate optimal stopping problems of the form inf θ E f  Xθ sup s∈[0,τ ] Xs   , where f is a non-increasing function, τ is the next random time where the portfolio X crosses zero and θ is any stopping time smaller than τ . Hereby, our motivation is the obtention of an optimal selling strategy minimizing the relativ...

Drawing on alternative perspectives about the automaticity of dispositional judgments, we examine whether the motivation to attract the other (i.e., selling orientation) in interpersonal first meetings (e.g., job interviews) helps or hinders the accuracy and validity of dispositional judgments. In a laboratory study (Study 1) we found that selling orientation reduced the accuracy of interviewer...

The proliferation of both online and bricks and mortar outlet stores underscores the observation that secondary markets are readily accessible to retailers of short−life−cycle products. These secondary markets provide recourse channels for retailers to sell excess inventory of out of favor items at reduced prices when overstocking occurs in a primary market. We study the problem of determining ...