Bundling against Learning
Fuente:
arXiv
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| Auteurs principaux: | , |
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| Format: | Preprint |
| Publié: |
2025
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| _version_ | 1866914048563478528 |
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| author | Pernoud, Agathe Yang, Frank |
| author_facet | Pernoud, Agathe Yang, Frank |
| contents | A monopolist sells multiple goods to an uninformed buyer. The buyer chooses to learn any one-dimensional linear signal of their values for the goods, anticipating the seller's mechanism. The seller designs an optimal mechanism, anticipating the buyer's learning choice. In a generalized Gaussian environment, we show that every equilibrium has vertical learning where the buyer's posterior means are comonotonic, and every equilibrium is outcome-equivalent to nested bundling where the seller offers a menu of nested bundles. In equilibrium, the buyer learns more about a higher-tier good, resulting in a higher posterior variance on the log scale. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2509_16396 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | Bundling against Learning Pernoud, Agathe Yang, Frank Theoretical Economics A monopolist sells multiple goods to an uninformed buyer. The buyer chooses to learn any one-dimensional linear signal of their values for the goods, anticipating the seller's mechanism. The seller designs an optimal mechanism, anticipating the buyer's learning choice. In a generalized Gaussian environment, we show that every equilibrium has vertical learning where the buyer's posterior means are comonotonic, and every equilibrium is outcome-equivalent to nested bundling where the seller offers a menu of nested bundles. In equilibrium, the buyer learns more about a higher-tier good, resulting in a higher posterior variance on the log scale. |
| title | Bundling against Learning |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2509.16396 |