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Dynamic Allocation and PricingA Mechanism Design Approach$
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Alex Gershkov and Benny Moldovanu

Print publication date: 2015

Print ISBN-13: 9780262028400

Published to MIT Press Scholarship Online: May 2016

DOI: 10.7551/mitpress/9780262028400.001.0001

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Long-lived Agents

Long-lived Agents

Chapter:
(p.151) 6 Long-lived Agents
Source:
Dynamic Allocation and Pricing
Author(s):

Alex Gershkov

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262028400.003.0006

In this chapter the authors review several models where agents are long-lived and hence they can manipulate the timing of their purchase. They first study the case where agents are long lived but objects are short lived. Then they review models where both agents and goods are long lived. They present applications to queue management of randomly arriving customers who are awarded priorities for using a processing device. Finally, the authors consider a class of dynamic screening models where the population is fixed, while the private information evolves over time.

Keywords:   Search with recall, Queuing, stochastic supply, dynamic screening

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