2023
DOI: 10.1609/aaai.v37i8.26091
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Learning Revenue Maximization Using Posted Prices for Stochastic Strategic Patient Buyers

Abstract: We consider a seller faced with buyers which have the ability to delay their decision, which we call patience. Each buyer's type is composed of value and patience, and it is sampled i.i.d. from a distribution. The seller, using posted prices, would like to maximize her revenue from selling to the buyer. In this paper, we formalize this setting and characterize the resulting Stackelberg equilibrium, where the seller first commits to her strategy, and then the buyers best respond. Following this, we show how to… Show more

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