haku: @journal_id 7 / yhteensä: 1856
viite: 9 / 1856
| Tekijä: | Segal, I. |
| Otsikko: | Optimal pricing mechanisms with unknown demand |
| Lehti: | American Economic Review
2003 : JUN, VOL. 93:3, p. 509-529 |
| Asiasana: | Demand Frequency distribution Optimization Pricing |
| Kieli: | eng |
| Tiivistelmä: | The standard profit-maximizing multiunit auction intersects the submitted demand curve with a preset reservation supply curve, which is determined using the distribution from which the buyers' valuations are drawn. However, when this distribution is unknown, a preset supply curve cannot maximize monopoly profits. The optimal pricing mechanism in this situation sets a price for each buyer on the basis of the demand distribution inferred statistically from other buyers' bid. |
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