Construct · 1 fields · 1 citations

generalized second-price auction: a standalone construct

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generalizedsecond-price auction1 CONSTRUCTGeneralized second-priceEDELMAN · ALGORITHMIC GAME

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Algorithmic game theory

the auction format for ranked advertising slots in which each winner pays the next-highest bid, which is not truthful yet has stable equilibria.

In algorithmic game theory, generalized second-price auction refers to the auction format for ranked advertising slots in which each winner pays the next-highest bid, which is not truthful yet has stable equilibria. This meaning comes from Edelman (2007) in American Economic Review.[1]

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game2 fields · 3 citationsjingle · one word, two constructs

References

  1. Edelman, B., Ostrovsky, M., & Schwarz, M. (2007). Internet Advertising and the Generalized Second-Price Auction: Selling Billions of Dollars Worth of Keywords. American Economic Review, 97(1), 242-259. https://doi.org/10.1257/aer.97.1.242

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