{"id":"https://openalex.org/W2666328039","doi":"https://doi.org/10.1145/3033274.3085130","title":"Repeated Sales with Multiple Strategic Buyers","display_name":"Repeated Sales with Multiple Strategic Buyers","publication_year":2017,"publication_date":"2017-06-20","ids":{"openalex":"https://openalex.org/W2666328039","doi":"https://doi.org/10.1145/3033274.3085130","mag":"2666328039"},"language":"en","primary_location":{"id":"doi:10.1145/3033274.3085130","is_oa":false,"landing_page_url":"https://doi.org/10.1145/3033274.3085130","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 2017 ACM Conference on Economics and Computation","raw_type":"proceedings-article"},"type":"conference-paper","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5009111822","display_name":"Nicole Immorlica","orcid":"https://orcid.org/0000-0003-4180-4657"},"institutions":[{"id":"https://openalex.org/I1290206253","display_name":"Microsoft (United States)","ror":"https://ror.org/00d0nc645","country_code":"US","type":"company","lineage":["https://openalex.org/I1290206253"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Nicole Immorlica","raw_affiliation_strings":["Microsoft Research, Cambridge, MA, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Microsoft Research, Cambridge, MA, USA","institution_ids":["https://openalex.org/I1290206253"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5082964830","display_name":"Brendan Lucier","orcid":"https://orcid.org/0009-0006-3497-0875"},"institutions":[{"id":"https://openalex.org/I1290206253","display_name":"Microsoft (United States)","ror":"https://ror.org/00d0nc645","country_code":"US","type":"company","lineage":["https://openalex.org/I1290206253"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Brendan Lucier","raw_affiliation_strings":["Microsoft Research, Cambridge, MA, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Microsoft Research, Cambridge, MA, USA","institution_ids":["https://openalex.org/I1290206253"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5048908687","display_name":"Emmanouil Pountourakis","orcid":"https://orcid.org/0000-0002-5023-1099"},"institutions":[{"id":"https://openalex.org/I86519309","display_name":"The University of Texas at Austin","ror":"https://ror.org/00hj54h04","country_code":"US","type":"education","lineage":["https://openalex.org/I86519309"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Emmanouil Pountourakis","raw_affiliation_strings":["University of Texas, Austin, Austin, TX, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Texas, Austin, Austin, TX, USA","institution_ids":["https://openalex.org/I86519309"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5002738486","display_name":"Samuel Taggart","orcid":null},"institutions":[{"id":"https://openalex.org/I111979921","display_name":"Northwestern University","ror":"https://ror.org/000e0be47","country_code":"US","type":"education","lineage":["https://openalex.org/I111979921"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Samuel Taggart","raw_affiliation_strings":["Northwestern University, Evanston, IL, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Northwestern University, Evanston, IL, USA","institution_ids":["https://openalex.org/I111979921"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":21,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":"167","last_page":"168"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9998999834060669,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9998999834060669,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11161","display_name":"Consumer Market Behavior and Pricing","score":0.9973000288009644,"subfield":{"id":"https://openalex.org/subfields/1406","display_name":"Marketing"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11031","display_name":"Game Theory and Applications","score":0.9962000250816345,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/coase-theorem","display_name":"Coase theorem","score":0.7402768731117249},{"id":"https://openalex.org/keywords/revenue","display_name":"Revenue","score":0.7007332444190979},{"id":"https://openalex.org/keywords/purchasing","display_name":"Purchasing","score":0.664648711681366},{"id":"https://openalex.org/keywords/exploit","display_name":"Exploit","score":0.6112222075462341},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.606664776802063},{"id":"https://openalex.org/keywords/outcome","display_name":"Outcome (game theory)","score":0.5014588832855225},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.4755294620990753},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.3349230885505676},{"id":"https://openalex.org/keywords/transaction-cost","display_name":"Transaction cost","score":0.25514495372772217},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.20422902703285217},{"id":"https://openalex.org/keywords/marketing","display_name":"Marketing","score":0.18247586488723755}],"concepts":[{"id":"https://openalex.org/C79202496","wikidata":"https://www.wikidata.org/wiki/Q1050037","display_name":"Coase theorem","level":3,"score":0.7402768731117249},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.7007332444190979},{"id":"https://openalex.org/C2778813691","wikidata":"https://www.wikidata.org/wiki/Q1369832","display_name":"Purchasing","level":2,"score":0.664648711681366},{"id":"https://openalex.org/C165696696","wikidata":"https://www.wikidata.org/wiki/Q11287","display_name":"Exploit","level":2,"score":0.6112222075462341},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.606664776802063},{"id":"https://openalex.org/C148220186","wikidata":"https://www.wikidata.org/wiki/Q7111912","display_name":"Outcome (game theory)","level":2,"score":0.5014588832855225},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4755294620990753},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3349230885505676},{"id":"https://openalex.org/C98965940","wikidata":"https://www.wikidata.org/wiki/Q877496","display_name":"Transaction cost","level":2,"score":0.25514495372772217},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.20422902703285217},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.18247586488723755},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1145/3033274.3085130","is_oa":false,"landing_page_url":"https://doi.org/10.1145/3033274.3085130","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 2017 ACM Conference on Economics and Computation","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Partnerships for the goals","score":0.5799999833106995,"id":"https://metadata.un.org/sdg/17"}],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":9,"referenced_works":["https://openalex.org/W1501382518","https://openalex.org/W2020454534","https://openalex.org/W2029050771","https://openalex.org/W2041776872","https://openalex.org/W2063515507","https://openalex.org/W2121860528","https://openalex.org/W2168432970","https://openalex.org/W2950397526","https://openalex.org/W3125389585"],"related_works":["https://openalex.org/W2031274102","https://openalex.org/W2271432633","https://openalex.org/W1972048101","https://openalex.org/W170652452","https://openalex.org/W3124669466","https://openalex.org/W3141998758","https://openalex.org/W3129141238","https://openalex.org/W4236781783","https://openalex.org/W1750637034","https://openalex.org/W4381490624"],"abstract_inverted_index":{"In":[0],"a":[1,7,11,21,31,115,157,171],"market":[2,98,107],"with":[3,132,179],"repeated":[4],"sales":[5],"of":[6,20,30,43,114,160,229],"single":[8,12,90,116],"item":[9],"to":[10,60,97,185,209],"buyer,":[13],"prior":[14],"work":[15],"has":[16,170],"established":[17],"the":[18,28,35,41,48,52,79,112,123,127,148,161,176,194,210,213,217,227,234,245],"existence":[19],"zero":[22,80],"revenue":[23,72,81,128,243],"perfect":[24],"Bayesian":[25],"equilibrium":[26,82,138],"in":[27,58,68,76,146,190,216,226],"absence":[29,228],"commitment":[32,94],"device":[33],"for":[34,139,238,244],"seller.":[36],"This":[37,87,207],"counter-intuitive":[38],"outcome":[39,236],"is":[40,130],"result":[42,103,199],"strategic":[44],"purchasing":[45,62,153],"decisions,":[46],"where":[47,175],"buyer":[49,91],"worries":[50],"that":[51,67,89,105,129,142,182,225],"seller":[53,124,149,177],"will":[54],"update":[55],"future":[56],"prices":[57,181],"response":[59],"past":[61,152],"behavior.":[63],"We":[64,134],"first":[65],"show":[66],"fact":[69],"almost":[70],"any":[71],"can":[73,125],"be":[74],"achieved":[75],"equilibrium,":[77],"but":[78],"uniquely":[83],"survives":[84,143],"natural":[85,172],"refinements.":[86],"establishes":[88],"markets":[92],"without":[93],"are":[95,120],"subject":[96],"failure.":[99],"However,":[100],"our":[101,144],"main":[102],"shows":[104],"this":[106],"failure":[108],"depends":[109],"crucially":[110],"on":[111],"assumption":[113],"buyer.":[117],"If":[118],"there":[119],"multiple":[121,140,239],"buyers,":[122,240],"approximate":[126],"possible":[131],"commitment.":[133],"construct":[135],"an":[136,201],"intuitive":[137],"buyers":[141],"refinements,":[145],"which":[147,223],"learns":[150],"from":[151,212],"behavior":[154],"and":[155,189],"obtains":[156],"constant":[158],"factor":[159],"per-round":[162],"Myerson":[163],"optimal":[164],"revenue.":[165],"The":[166,198],"seller's":[167],"pricing":[168],"policy":[169],"explore-exploit":[173],"structure,":[174],"starts":[178],"low":[180],"gradually":[183],"ascend":[184],"learn":[186],"buyers'":[187],"values,":[188],"later":[191],"rounds":[192],"exploits":[193],"surviving":[195],"high-valued":[196],"buyers.":[197],"resembles":[200],"ascending-price":[202],"auction,":[203],"implemented":[204],"over":[205],"time.":[206],"relates":[208],"intuition":[211],"Coase":[214],"conjecture":[215],"durable":[218],"goods":[219],"literature":[220],"[Coase":[221],"1972]":[222],"states":[224],"commitment,":[230],"one":[231],"should":[232],"expect":[233],"VCG":[235],"(which,":[237],"yields":[241],"non-trivial":[242],"seller).":[246]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":4},{"year":2018,"cited_by_count":5},{"year":2017,"cited_by_count":1},{"year":2014,"cited_by_count":1}],"updated_date":"2026-07-14T23:27:15.235271","created_date":"2025-10-10T00:00:00"}