TY  - BOOK
AU  - Gershkov,Alex
AU  - Moldovanu,Benny
TI  - Dynamic allocation and pricing: a mechanism design approach
T2  - Arne Ryde memorial lectures series
SN  - 9780262028400 (hardcover : alk. paper)
U1  - 658.1554 23
PY  - 2014///
CY  - Cambridge
PB  - MIT Press
KW  - Revenue management
KW  - Pricing
KW  - Assignment problems (Programming)
N1  - Includes bibliographical references and index; 1. Introduction --
2. The sequential assignment of heterogenous objects --
3. Dynamic revenue maximization with heterogenous objects --
4. The stochastic and dynamic Knapsack model --
5. Learning and dynamic efficiency --
6. Long lived agents --
Index
N2  - In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings. Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents
ER  -