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About this paper
Pieter Kleer, Johan van Leeuwaarden, Daan Noordenbos
The authors study how a seller can set one posted price for a buyer using samples from an unknown value distribution. For monotone-hazard-rate distributions, posting the sample average is exactly optimal among sample-based rules. For broader λ-regular distributions, an order statistic approaches the full-information posted-price benchmark with error of order 1/n; with two samples and λ=1/2, its guarantee is 0.2.
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