| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13018 |
| DP13018 The Scope of Sequential Screening with Ex-Post Participation Constraints | |
| Dirk Bergemann | |
| 发表日期 | 2018-06-28 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We study the classic sequential screening problem in the presence of buyers' ex-post participation constraints. A leading example is the online display advertising market, in which publishers frequently do not use up-front fees and instead use transaction-contingent fees. We establish conditions under which the optimal selling mechanism is static and buyers are not screened with respect to their interim type, or sequential and the buyers are screened with respect to their interim type. In particular, we provide an intuitive necessary and sufficient condition under which the static contract is optimal for general distributions of ex-post values. Further, we completely characterize the optimal sequential contract with binary interim types and continuum of ex-post values when this condition fails. Importantly, the latter contract randomizes the allocation of the low type buyer while giving a deterministic allocation to the high type. We also provide partial results for the case of multiple interim types. |
| 主题 | Industrial Organization |
| 关键词 | Sequential screening Ex-post participation constraints Static contract Sequential contract |
| URL | https://cepr.org/publications/dp13018 |
| 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/541824 |
| 推荐引用方式 GB/T 7714 | Dirk Bergemann. DP13018 The Scope of Sequential Screening with Ex-Post Participation Constraints. 2018. |
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