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You are here: Home Seminars 10.01. BGSE Micro Workshop: Alex Smolin

10.01. BGSE Micro Workshop: Alex Smolin

BGSE Micro Workshop with Alex Smolin (University of Bonn)

Event details
What
  • BGSE Workshop
When Jan 10, 2017
from 12:00 to 13:00
Where room 0.017
Contact Name Stephan Lauermann
Contact Email
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Topic

Disclosure and Pricing of Attributes

 

Abstract


A monopolist seller owns an object that has several attributes. A buyer is privately informed about his tastes and uncertain about the attributes. The seller can disclose attribute information to the buyer in a form of a statistical experiment. The seller offers a menu of call options varying in upfront payments, experiments, and strike prices. I study revenue-maximizing menus and show that optimal experiments belong to a simple class of linear disclosures. I fully characterize an optimal menu for a class of single-minded buyers. Surprisingly, the menu is nondiscriminatory and can be implemented by a single partial disclosure followed by a posted price.
 


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