Companies in diverse industries have to decide the pricing policy of their inventory over time. This decision becomes particularly complex when customers accommodate their purchase decision in the hope of future discounts and promotions. With such uncertainty, many of these customers may end up...

This article studies a principal-agent problem with discrete outcome and effort space. The principal and the agent are risk neutral and the latter is subject to limited liability. For a given monitoring technology, we consider the maximum possible ratio between the first best social welfare to...

An important problem in electronic commerce is that of finding optimal pricing mechanisms to sell a single item when the number of buyers is random and they arrive over time. In this paper we combine ideas from auction theory and recent work on pricing with strategic consumers to derive the...

This article studies a principal-agent problem with discrete outcome and effort level spaces. The principal and the agent are risk neutral and the latter is subject to limited liability. We consider the ratio between the first-best social welfare and the social welfare arising from the...