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...

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Bibliographic Details

Published in:	American Economic Review Vol. 99; no. 4; pp. 1576 - 1588
Main Authors:	Gershkov, Alex, Moldovanu, Benny
Format:	Article
Published:	American Economic Association September 2009
Subjects:	Information theory in economics Resource allocation > Mathematical models
Online Access:	View this record in EBSCOhost