Optimal reserve prices in weighted GSP auctions
作者：
Highlights：
• We show how to determine the optimal reserve price of the weighted GSP mechanism in Bayesian settings.
• We prove that the wGSP auction with this discriminatory re-serve price is a Myerson optimal auction.
• This optimal reserve price can be extended to support CPA/CPC/CPM hybrid auction.
• Our simulations indicate that setting a proper reserve price will make bidders transfer surplus to payment.
• We describe a practical implementation method to compute optimal reserve prices in production systems.
摘要
•We show how to determine the optimal reserve price of the weighted GSP mechanism in Bayesian settings.•We prove that the wGSP auction with this discriminatory re-serve price is a Myerson optimal auction.•This optimal reserve price can be extended to support CPA/CPC/CPM hybrid auction.•Our simulations indicate that setting a proper reserve price will make bidders transfer surplus to payment.•We describe a practical implementation method to compute optimal reserve prices in production systems.
论文关键词：Generalized second price auction,Weighted GSP,Reserve price,Optimal auction,Sponsored search auction
论文评审过程：Received 30 April 2013, Revised 16 February 2014, Accepted 18 February 2014, Available online 6 March 2014.
论文官网地址：https://doi.org/10.1016/j.elerap.2014.02.003
