Dynamic Mechanism Design with Budget-Constrained Buyers Under Limited Commitment

Published Online:https://doi.org/10.1287/opre.2018.1830

References

  • Akan M, Ata B, Dana JD Jr (2015) Revenue management by sequential screening. J. Econom. Theory 159(September, Part B):728–774.CrossrefGoogle Scholar
  • Alós-Ferrer C, Ritzberger K (2008) Trees and extensive forms. J. Econom. Theory 143(1):216–250.CrossrefGoogle Scholar
  • Ashenfelter O (1989) How auctions work for wine and art. J. Econom. Perspect. 3(3):23–36.CrossrefGoogle Scholar
  • Başar T, Olsder G (1999) Dynamic Noncooperative Game Theory, 2nd ed. (SIAM, Philadelphia).Google Scholar
  • Balseiro SR, Besbes O, Weintraub GY (2015) Repeated auctions with budgets in ad exchanges: Approximations and design. Management Sci. 61(4):864–884.LinkGoogle Scholar
  • Benoît J-P, Krishna V (2001) Multiple-object auctions with budget constrained bidders. Rev. Econom. Stud. 68(1):155–179.CrossrefGoogle Scholar
  • Bergin J, MacLeod WB (1993) Continuous time repeated games. Internat. Econom. Rev. 34(1):21–37.CrossrefGoogle Scholar
  • Bester H, Strausz R (2001) Contracting with imperfect commitment and the revelation principle: The single agent case. Econometrica 69(4):1077–1098.CrossrefGoogle Scholar
  • Bhattacharya S, Goel G, Gollapudi S, Munagala K (2010) Budget constrained auctions with heterogeneous items. Proc. 42nd ACM Sympos. Theory Comput. (ACM, New York), 379–388.CrossrefGoogle Scholar
  • Board S, Skrzypacz A (2015) Revenue management with forward-looking buyers. J. Political Econom. 124(4):1046–1087.CrossrefGoogle Scholar
  • Borgs C, Chayes J, Immorlica N, Mahdian M, Saberi A (2005) Multi-unit auctions with budget-constrained bidders. Proc. 6th ACM Conf. Electronic Commerce (ACM, New York), 44–51.CrossrefGoogle Scholar
  • Bressan A, Shen W (2004) Small bv solutions of hyperbolic noncooperative differential games. SIAM J. Control Optim. 43(1):194–215.CrossrefGoogle Scholar
  • Brusco S, Lopomo G (2008) Budget constraints and demand reduction in simultaneous ascending-bid auctions. J. Indust. Econom. 56(1):113–142.CrossrefGoogle Scholar
  • Che YK, Gale I (1998) Standard auctions with financially constrained bidders. Rev. Econom. Stud. 65(1):1–21.CrossrefGoogle Scholar
  • Che YK, Gale I (2000) The optimal mechanism for selling to a budget-constrained buyer. J. Econom. Theory 92(2):198–233.CrossrefGoogle Scholar
  • Deb R, Said M (2015) Dynamic screening with limited commitment. J. Econom. Theory 159(September, Part B): 891–928.CrossrefGoogle Scholar
  • Dilme F, Li F (2019) Revenue management without commitment: Dynamic pricing and periodic fire sales. Rev. Econom. Stud. Forthcoming.Google Scholar
  • Dobrzynski JH (2012) How an acquisition fund burnishes reputations. New York Times (March 14), https://www.nytimes.com/2012/03/15/arts/artsspecial/a-fund-for-buying-art-burnishescollections-and-reputations.html.Google Scholar
  • Evans LC (2010) Partial Differential Equations, Graduate Studies in Mathematics, 2nd ed. (American Mathematical Society, Providence, RI).Google Scholar
  • Gallien J (2006) Dynamic mechanism design for online commerce. Oper. Res. 54(2):291–310.LinkGoogle Scholar
  • Gershkov A, Moldovanu B (2014) Dynamic Allocation and Pricing: A Mechanism Design Approach (MIT Press, Cambridge, MA).Google Scholar
  • Gul F, Sonnenschein H, Wilson R (1986) Foundations of dynamic monopoly and the coase conjecture. J. Econom. Theory 39(1):155–190.CrossrefGoogle Scholar
  • Gummadi R, Key PB, Proutiere A (2012) Optimal bidding strategies and equilibria in dynamic auctions with budget constraints. Proc. 49th Annual Allerton Conf. Comm. Control Comput. (IEEE, New York), 588.Google Scholar
  • Hendon E, Jacobsen HJ, Sloth B (1996) The one-shot-deviation principle for sequential rationality. Games Econom. Behav. 12(2):274–282.CrossrefGoogle Scholar
  • Hörner J, Samuelson L (2011) Managing strategic buyers. J. Political Econom. 119(3):379–425.CrossrefGoogle Scholar
  • Iyer K, Johari R, Sundararajan M (2014) Mean field equilibria of dynamic auctions with learning. Management Sci. 60(12):2949–2970.LinkGoogle Scholar
  • Kakade S, Lobel I, Nazerzadeh H (2013) Optimal dynamic mechanism design and the virtual pivot mechanism. Oper. Res. 61(3):837–854.LinkGoogle Scholar
  • Korula N, Mirrokni V, Nazerzadeh H (2015) Optimizing display advertising markets: Challenges and directions. IEEE Internet Comput. 20(1):28–35.Google Scholar
  • Laffont JJ, Robert J (1996) Optimal auction with financially constrained buyers. Econom. Lett. 52(2):181–186.CrossrefGoogle Scholar
  • Lewis TR, Yildirim H (2002) Managing dynamic competition. Amer. Econom. Rev. 92(4):779–797.CrossrefGoogle Scholar
  • Liu Q, Mierendorff K, Shi X (2019) Auctions with limited commitment. Amer. Econom. Rev. 109(3):876–910.Google Scholar
  • Mailath GJ, Postlewaite A, Samuelson L (2005) Contemporaneous perfect epsilon-equilibria. Games Econom. Behav. 53(1):126–140.CrossrefGoogle Scholar
  • Maskin ES (2000) Auctions, development, and privatization: Efficient auctions with liquidity-constrained buyers. Eur. Econom. Rev. 44(4–6):667–681.CrossrefGoogle Scholar
  • Milgrom P (2004) Putting Auction Theory to Work (Cambridge University Press, New York).CrossrefGoogle Scholar
  • Muthukrishnan S (2009) Ad exchanges: Research issues. Internet and Network Economics, Lecture Notes in Computer Science, vol. 3828 (Springer, New York), 1–12.CrossrefGoogle Scholar
  • Myerson R (1981) Optimal auction design. Math. Oper. Res. 6(1):58–73.LinkGoogle Scholar
  • Nazerzadeh H, Saberi A, Vohra R (2013) Dynamic cost-per-action mechanisms and applications to online advertising. Oper. Res. 6(1):98–111.LinkGoogle Scholar
  • Pai MM, Vohra R (2014) Optimal auctions with financially constrained bidders. J. Econom. Theory 150(0):383–425.CrossrefGoogle Scholar
  • Pavan A, Segal I, Toikka J (2014) Dynamic mechanism design: A myersonian approach. Econometrica 82(2):601–653.CrossrefGoogle Scholar
  • Pitchik C (2009) Budget-constrained sequential auctions with incomplete information. Games Econom. Behav. 66(2):928–949.CrossrefGoogle Scholar
  • Simon LK, Stinchcombe MB (1989) Extensive form games in continuous time: Pure strategies. Econometrica 57(5):1171–1214.CrossrefGoogle Scholar
  • Skreta V (2006) Sequentially optimal mechanisms. Rev. Econom. Stud. 73(4):1085–1111.CrossrefGoogle Scholar
  • Skreta V (2015) Optimal auction design under non-commitment. J. Econom. Theory 159(September, Part B):854–890.CrossrefGoogle Scholar
  • van den Berg GJ, van Ours JC, Pradhan MP (2001) The declining price anomaly in dutch dutch rose auctions. Amer. Econom. Rev. 91(4):1055–1062.CrossrefGoogle Scholar
  • Vulcano G, van Ryzin G, Maglaras C (2002) Optimal dynamic auctions for revenue management Management Sci. 48(11):1388–1407.LinkGoogle Scholar
  • Yuan S, Wang J, Zhao X (2013) Real-time bidding for online advertising: Measurement and analysis. Proc. 7th Internat. Workshop Data Mining Online Advertising (ACM, New York), Article 3.CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.