In the research intensive sectors, eg. Biotechnology and Software sectors, it is a prominent and growing trend for the big commercial firms to outsource the research activities to smaller but research-oriented firms or research labs. In this paper, I provide an explanation based on the...

We consider a dynamic posted-price mechanism of a seller who must sell a single unit of a good to a number of buyers before a deadline. The seller cannot pre-commit to any price-path. Even when the buyers are symmetric (though non-anonymous) to the seller, the seller can charge different prices...

We investigate a finite-horizon dynamic pricing problem of a seller under limited commitment. Even when the buyers are ex-ante symmetric to the seller, the seller can charge different prices to different buyers. We show that under the class of posted-price mechanisms this asymmetric treatment of...