  A buyer wishes to purchase a durable good from a seller who in each period
chooses a mechanism under limited commitment. The buyer's valuation is binary
and fully persistent. We show that posted prices implement all equilibrium
outcomes of an infinite-horizon, mechanism selection game. Despite being able
to choose mechanisms, the seller can do no better and no worse than if he chose
prices in each period, so that he is subject to Coase's conjecture. Our
analysis marries insights from information and mechanism design with those from
the literature on durable goods. We do so by relying on the revelation
principle in Doval and Skreta (2020).
