Intertemporal Price Discrimination: Dynamic Arrivals and Changing Values
研究了垄断者向随时间到达且价值随机变化的消费者销售耐用品时的最优定价路径，发现最优价格会随时间波动，为现实中常见的临时降价提供了理论解释。
We study the profit-maximizing price path of a monopolist selling a durable good to buyers who arrive over time and whose values for the good evolve stochastically. The setting is completely stationary with an infinite horizon. Contrary to the case with constant values, optimal prices fluctuate with time. We argue that consumers’ randomly changing values offer an explanation for temporary price reductions that are often observed in practice.