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A seller wants to sell an indivisible item to n buyers. The buyer valuations are drawn i.i.d. from a distribution, but the seller does not know this distribution; the seller only knows the support [a,b]. To be robust against the lack of knowledge of the environment and buyers' behavior, the...
Persistent link: https://www.econbiz.de/10014344636
Classical Bayesian mechanism design relies on the common prior assumption, but the common prior is often not available in practice. We study the design of prior-independent mechanisms that relax this assumption: the seller is selling an indivisible item to n buyers such that the buyers’...
Persistent link: https://www.econbiz.de/10013289909