全球智库信息集成服务系统(G2TT): DP6440 Structural Estimation of Search Intensity: Do Non-Employed Workers Search Enough?

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP6440
	DP6440 Structural Estimation of Search Intensity: Do Non-Employed Workers Search Enough?
	Pieter A. Gautier; José-Luis Moraga-González; Ronald Wolthoff
发表日期	2007-09-14
出版年	2007
语种	英语
摘要	We study the allocation of several heterogenous, commonly ranked objects to impatient agents with privately known characteristics who arrive sequentially according to a Poisson or renewal process. We analyze and compare the policies that maximize either welfare or revenue. We focus on two cases: 1. There is a deadline after which no more objects can be allocated; 2. The horizon is potentially infinite and there is time discounting. We first characterize all implementable allocation schemes, and we compute the expected revenue for any implementable, deterministic and Markovian allocation policy. These properties are shared by the welfare and revenue maximizing policies. Moreover, we show that these policies do not depend on the characteristics of the available objects at each point in time. The revenue-maximizing allocation scheme is obtained by a variational argument which sheds somewhat more light on its properties than the usual dynamic programming approach. We also obtain several properties of the welfare maximizing policy using stochastic dominance measures of increased variability and majorization arguments. These results yield upper/lower bounds on efficiency/revenue for large classes of distributions of agents' characteristics or of distributions of inter-arrival times for which explicit solutions cannot be obtained in closed form.
主题	Industrial Organization
关键词	Dynamic pricing Mechanism design Revenue management Sequential assignment
URL	https://cepr.org/publications/dp6440
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/535281
推荐引用方式 GB/T 7714	Pieter A. Gautier,José-Luis Moraga-González,Ronald Wolthoff. DP6440 Structural Estimation of Search Intensity: Do Non-Employed Workers Search Enough?. 2007.