competition. Where firms have some market power, as in the market for information goods, we expect discriminatory pricing to … become the norm. Apart from posted prices, the internet has extended the use of auctions, even to relatively low-value goods … well as economic efficiency, and may emerge as the principal pricing method for a large number of goods and services. …

determined. Generally, customer acquisition is deterministic while pricing is randomized. The equilibrium outcome depends on the … timing of customer acquisition relative to pricing. If sellers acquire customers before setting prices, the unique …