Monopoly pricing with buyer search

Zhihao Gavin Tang
Zhihao Gavin Tang

arXiv: Computer Science and Game Theory, Volume abs/1802.02751, 2018.

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Abstract:

In many shopping scenarios, e.g., in online shopping, customers have a large menu of options to choose from. However, most of the buyers do not browse all the options and make decision after considering only a small part of the menu. To study such buyeru0027s behavior we consider the standard Bayesian monopoly problem for a unit-demand bu...More

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