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The Optimal Mechanism for Selling to Budget-Constrained Consumers

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Author Info

  • Che, Y.K.
  • Gale, I.

Abstract

This paper finds an optimal mechanism for selling an indivisible good to consumers who may be budget-constrained. Unlike the case where buyers are not budget constrained, a single posted price is not typically optimal. An optimal mechanism generally consists of a continuum of lotteries indexed by the probability of comsumption and the entry fee.

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Bibliographic Info

Paper provided by Wisconsin Madison - Social Systems in its series Working papers with number 9415r.

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Length: 21 pages
Date of creation: 1995
Date of revision:
Handle: RePEc:att:wimass:9415r

Contact details of provider:
Postal: UNIVERSITY OF WISCONSIN MADISON, SOCIAL SYSTEMS RESEARCH INSTITUTE(S.S.R.I.), MADISON WISCONSIN 53706 U.S.A.

Related research

Keywords: CONSUMPTION; BUDGET;

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Cited by:
  1. GAUTIER, Axel & MITRA, Manipushpak, 2003. "Financing infrastructure under budget constraints," CORE Discussion Papers 2003037, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Mark Armstrong & David Sappington, 2005. "Regulation, Competition and Liberalization," Industrial Organization 0505011, EconWPA, revised 07 Oct 2005.

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