search query: @author Wang, R. / total: 12
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| Author: | Chen, Y. Wang, R. |
| Title: | Learning buyers' valuation distribution in posted-price selling |
| Journal: | Economic Theory
1999 : AUG, VOL. 14:2, p. 417-428 |
| Index terms: | ECONOMICS PRICE DETERMINATION SELLING LEARNING |
| Language: | eng |
| Abstract: | This article studies a dynamic pricing model where a seller of an asset faces a sequence of potential buyers whose valuation distribution is unknown to the seller. The seller learns more about the distribution in the selling process and becomes less optimistic as the object remains unsold. thoe optimal posted prices are characterized which incorporate updated beliefs every period, and derive a rather tight sufficient condition under which these prices decline over time. |
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