Duarte Gonçalves, Bruno A. Furtado
arXiv 27 May 2024 · Theoretical Economics · 1 citations (OpenAlex)
arXiv:2405.17178 · PDF · DOI · OpenAlex · Extracted main text
This paper tackles challenges in pricing and revenue projections due to consumer uncertainty. We propose a novel data-based approach for firms facing unknown consumer type distributions. Unlike existing methods, we assume firms only observe a finite sample of consumers' types. We introduce empirically optimal mechanisms, a simple and intuitive class of sample-based mechanisms with strong finite-sample revenue guarantees. Furthermore, we leverage our results to develop a toolkit for statistical inference on profits. Our approach allows to reliably estimate the profits associated for any particular mechanism, to construct confidence intervals, and to, more generally, conduct valid hypothesis testing.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Vinicius Carrasco, Vitor Farinha Luz, Nenad Kos, Matthias Messner, P… (2018) Optimal selling mechanisms under moment conditions | 1.000 | 7 | 3 | 100% |
| 2 | Dirk Bergemann \ Karl H. Schlag (2011) Robust monopoly pricing | 1.000 | 6 | 4 | 100% |
| 3 | Dirk Bergemann \ Karl H. Schlag (2008) Pricing without Priors | 0.811 | 4 | 2 | 100% |
| 4 | Richard Cole \ Tim Roughgarden (2014) The Sample Complexity of Revenue Maximization | 0.737 | 3 | 2 | 100% |
| 5 | Zhiyi Huang, Yishay Mansour \ Tim Roughgarden (2018) Making the Most of Your Samples | 0.737 | 3 | 2 | 100% |
| 6 | Eric Maskin \ John Riley (1984) Monopoly with Incomplete Information | 0.737 | 3 | 2 | 100% |
| 7 | Juuso Toikka (2011) Ironing without control | 0.737 | 3 | 2 | 100% |
| 8 | Aryeh Dvoretzky, Jack Kiefer \ Jacob Wolfowitz (1956) Asymptotic Minimax Character of the Sample Distribution Function and of the Classical Multinomial Estimator | 0.644 | 2 | 2 | 100% |
| 9 | J. L. Lusk \ J. F. Shogren (2007) Experimental Auctions: Methods and Applications in Economics and Marketing Research. Cambridge University Press | 0.644 | 2 | 2 | 100% |
| 10 | Paul Milgrom \ Ilya Segal (2002) Envelope Theorems for Arbitrary Choice Sets | 0.644 | 2 | 2 | 100% |
Showing the top 10 of 41 scored citations.