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Robustly Optimal Mechanisms for Selling Multiple Goods

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  • Yeon-Koo Che
  • Weijie Zhong

Abstract

We study robustly optimal mechanisms for selling multiple items. The seller maximizes revenue against a worst-case distribution of a buyer’s valuations within a set of distributions, called an “ambiguity” set. We identify the exact forms of robustly optimal selling mechanisms and the worst-case distributions when the ambiguity set satisfies various moment conditions on the values of subsets of goods. The analysis reveals general properties of the ambiguity set that justifies categorical bundling, which includes separate sales and pure bundling as special cases.

Suggested Citation

  • Yeon-Koo Che & Weijie Zhong, 2025. "Robustly Optimal Mechanisms for Selling Multiple Goods," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 92(5), pages 2923-2951.
    • Handle: RePEc:oup:restud:v:92:y:2025:i:5:p:2923-2951.
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    File URL: http://hdl.handle.net/10.1093/restud/rdae107
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