Traditional retailers (bricks-and-mortar) have been continuously increasing online sales. However, not all retail companies were able to respond to the increasing sales with the same efficiency level as their competitors. This paper aims to propose a dynamic model - incorporating principles of...

Vickrey tries to solve the socialist problem of shortage, by giving both the buyers and the sellers extra benefit. This paper proves that such squandering leads to more shortage, and argues that the only correct measure to solve shortage is market liberalization