For i.i.d. valuations in the large-market limit, a fixed price captures at least 0.712 of optimal welfare for one item (tight), and optimal dynamic pricing needs only a constant factor more bidders to match the benchmark.
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Posted Pricing and Competition in Large Markets
For i.i.d. valuations in the large-market limit, a fixed price captures at least 0.712 of optimal welfare for one item (tight), and optimal dynamic pricing needs only a constant factor more bidders to match the benchmark.