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Time or money? That is a question! In this paper, we consider this dilemma inthe pricing regime, in which we try to find the optimal pricing scheme foridentical items with heterogenous time-sensitive buyers. We characterize therevenue-optimal solution and propose an efficient algorithm to find it in aBayesian setting. Our results also demonstrate the tight ratio between thevalue of wasted time and the seller's revenue, as well as that of twocommon-used pricing schemes, the k-step function and the fixed pricing. Toexplore the nature of the optimal scheme in the general setting, we present theclosed forms over the product distribution and show by examples that positivecorrelation between the valuation of the item and the cost per unit time couldhelp increase revenue. To the best of our knowledge, it is the first steptowards understanding the impact of the time factor as a part of the buyer costin pricing problems, in the computational view.

Optimal Pricing Schemes for Identical Items with Time-Sensitive Buyers