Price discrimination through communication

• 成果类型: Article
• 署名作者: Sher, Itai; Vohra, Rakesh
• 署名单位: University of Minnesota System; University of Minnesota Twin Cities; University of Pennsylvania; University of Pennsylvania
• 刊物名称: THEORETICAL ECONOMICS
• ISSN/ISSBN: 1933-6837
• DOI: 10.3982/TE1129
• 发表日期: 2015-05-01
• 页码: 597-648
• 关键词: Price discrimination; COMMUNICATION; bargaining; COMMITMENT; evidence; network flows

摘要

We study a seller's optimal mechanism for maximizing revenue when a buyer may present evidence relevant to her value. We show that a condition very close to transparency of buyer segments is necessary and sufficient for the optimal mechanism to be deterministichence, akin to classic third degree price discriminationindependently of nonevidence characteristics. We also find another sufficient condition depending on both evidence and valuations, whose content is that evidence is hierarchical. When these conditions are violated, the optimal mechanism contains a mixture of second and third degree price discrimination, where the former is implemented via sale of lotteries. We interpret such randomization in terms of the probability of negotiation breakdown in a bargaining protocol whose sequential equilibrium implements the optimal mechanism.