Approximate revenue maximization with multiple items

Abstract

Myerson's classic result provides a full description of how a seller can maximize revenue when selling a single item. We address the question of revenue maximization in the simplest possible multi-item setting: two items and a single buyer who has independently distributed values for the items, and an additive valuation. In general, the revenue achievable from selling two independent items may be strictly higher than the sum of the revenues obtainable by selling each of them separately. In fact, the structure of optimal (i.e., revenue-maximizing) mechanisms for two items even in this simple setting is not understood.

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