Second-Price Ad Auctions with Binary Bids and markets with good competition
نویسندگان
چکیده
منابع مشابه
On second-price auctions and imperfect competition
Consider two sellers each of whom has one unit of an indivisible good and two buyers each of whom is interested in buying one unit. The sellers simultaneously set reserve prices and use second-price auctions as rationing device. An equilibrium in pure strategies where each seller has a regular customer is characterized. The result is applied in order to demonstrate that not allowing sellers to ...
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A number of recent papers have addressed the algorithmic problem of allocating advertisement space for keywords in sponsored search auctions so as to maximize revenue, most of which assume that pricing is done via a first-price auction. This does not realistically model the Generalized Second Price (GSP) auction used in practice, in which bidders pay the next-highest bid for keywords that they ...
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We consider a new setting of ad auctions with value externalities. Under such a setting, we perform theoretic analysis on two implementations of generalized second price auctions (GSP): GSPS and GSPV . Our analysis shows that both GSPS and GSPV admit at least one pure Nash equilibrium for the single-slot case, while pure Nash equilibrium may not exist for the multi-slot case. Furthermore, we pr...
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This paper contributes to the literature on second-price auctions with resale. We add speculators—bidders with value zero—to the standard symmetric independent private values environment. There always exists a continuum of inefficient equilibria that are profitable for a speculator. With no reserve price in the initial auction, speculation can enhance the initial seller’s expected revenue. On t...
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Dynamic mechanisms are a powerful technique in designing revenue-maximizing repeated auctions. Despite their strength, these types of mechanisms have not been widely adopted in practice for several reasons, e.g., for their complexity, and for their sensitivity to the accuracy of predicting buyers’ value distributions. In this paper, we aim to address these shortcomings and develop simple dynami...
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ژورنال
عنوان ژورنال: Theoretical Computer Science
سال: 2014
ISSN: 0304-3975
DOI: 10.1016/j.tcs.2013.08.022