A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2006; you can also visit the original URL.
The file type is
This paper analyzes optimal selling strategies of a monopolist facing forward-looking patient unit-demand bidders in a sequential auction-market. Such a seller faces a fundamental choice between two selling regimes: adaptive selling which involves learning about remaining demand from early prices, and commitment selling which foregoes such learning and makes all selling decisions in the beginning of the game. A model of the game between the seller and the bidders is proposed to characterize thedoi:10.2139/ssrn.790984 fatcat:54yqzpwn4bhdxmmp75ojbebpnm