Learning about the Future and Dynamic Efficiency.
The conditions under which an efficient allocation of resources can be achieved in a dynamic private-values setting where the designer gradually learns about the distribution of agents' values are examined. It is demonstrated that the dynamic efficient assignment can always be achieved, providing a...
| Published in: | American Economic Review Vol. 99; no. 4; pp. 1576 - 1588 |
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| Main Authors: | , |
| Format: | Article |
| Published: |
American Economic Association
September 2009
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| Summary: | The conditions under which an efficient allocation of resources can be achieved in a dynamic private-values setting where the designer gradually learns about the distribution of agents' values are examined. It is demonstrated that the dynamic efficient assignment can always be achieved, providing all payments can be delayed until the conclusion of the entire allocation process. |
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