OxTalks will soon move to the new Halo platform and will become 'Oxford Events.' There will be a need for an OxTalks freeze. This was previously planned for Friday 14th November – a new date will be shared as soon as it is available (full details will be available on the Staff Gateway).
In the meantime, the OxTalks site will remain active and events will continue to be published.
If staff have any questions about the Oxford Events launch, please contact halo@digital.ox.ac.uk
We consider a continuous-time game between a buyer and a seller. The buyer privately knows how often he needs to trade. When he does, he can choose to either engage with the seller, who chooses what utility to supply, or search for an alternative. Because time is informative, the seller learns and adjusts her behaviour over time. Without commitment, in the Markov perfect equilibrium, the seller starts with a pooling offer, before experimenting with occasional separating offers. Her payoff is non-monotone –in fact, quasi-convex– in her belief about the buyer’s type. With commitment, the seller can take advantage of limited-time offers to extract all the buyer’s surplus.
