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Erscheinungsjahr: 
2015
Quellenangabe: 
[Journal:] Theoretical Economics [ISSN:] 1555-7561 [Volume:] 10 [Issue:] 2 [Publisher:] The Econometric Society [Place:] New Haven, CT [Year:] 2015 [Pages:] 597-648
Verlag: 
The Econometric Society, New Haven, CT
Zusammenfassung: 
We study a seller's optimal mechanism for maximizing revenue when a buyer may present evidence relevant to her value. We show that a condition very close to transparency of buyer segments is necessary and sufficient for the optimal mechanism to be deterministic--hence akin to classic third degree price discrimination--independently of non-evidence characteristics. We also find another sufficient condition depending on both evidence and valuations, whose content is that evidence is hierarchical. When these conditions are violated, the optimal mechanism contains a mixture of second and third degree price discrimination, where the former is implemented via sale of lotteries. We interpret such randomization in terms of the probability of negotiation breakdown in a bargaining protocol whose sequential equilibrium implements the optimal mechanism.
Schlagwörter: 
Price discrimination
communication
bargaining
commitment
evidence
network flows
JEL: 
C78
D82
D83
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
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Dokumentart: 
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