Monopoly Pricing, Optimal Randomization, and Resale
为实践中常见但令人困惑的随机化销售机制提供了简洁统一的解释，分析了随机化如何通过模糊定价和低价策略实现，并探讨了转售对均衡数量、质量及消费者剩余的影响。
We provide a parsimonious and unified explanation for randomized selling mechanisms widely used in practice yet commonly perceived as puzzling. Optimality of randomization in the form of conflation and rationing implies that revenue under market-clearing pricing is nonconcave. Randomization is implementable via opaque pricing and underpricing. Relative to market-clearing pricing, randomization increases the equilibrium quantity and quality of goods sold and, consequently, may increase consumer surplus. For fixed quantities, resale increases consumer surplus. However, resale can decrease the equilibrium quantity and quality of goods sold. Thus, resale prohibition, which always benefits the seller, may also increase consumer surplus.