Adwords Auctions with Decreasing Valuation Bids View Full Text


Ontology type: schema:Chapter     


Chapter Info

DATE

2007-01-01

AUTHORS

Gagan Goel , Aranyak Mehta

ABSTRACT

The choice of a bidding language is crucial in auction design in order to correctly capture bidder utilities. We propose a new bidding model for the Adwords auctions of search engine advertisement – decreasing valuation bids. This provides a richer language than the current model for advertisers to convey their preferences. Besides providing more expressivity, our bidding model has two additional advantages: It is an add-on to the standard model, and retains its simplicity of expression. Furthermore, it allows efficient algorithms – we show that the greedy (highest bid) algorithm retains its factor of 1/2 from the standard bidding model, and also provide an optimal allocation algorithm with a factor of 1-1/e (as is case in the standard bidding model).We also show how these bidding languages achieve a good trade-off between expressivity and complexity – we demonstrate a slight generalization of these models for which the greedy allocation algorithm has an arbitrarily bad competitive ratio. More... »

PAGES

335-340

Book

TITLE

Internet and Network Economics

ISBN

978-3-540-77104-3
978-3-540-77105-0

Identifiers

URI

http://scigraph.springernature.com/pub.10.1007/978-3-540-77105-0_35

DOI

http://dx.doi.org/10.1007/978-3-540-77105-0_35

DIMENSIONS

https://app.dimensions.ai/details/publication/pub.1007419465


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