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Designing Online Advertising Markets
Published on Aug 23, 20119770 Views
Research focuses on marketplace design, auction theory, and the statistical analysis of auction data.
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Chapter list
Designing Online Advertising Markets00:00
Introduction01:19
Auction-Based Two-Sided Markets05:13
What Matters in Market Design for a Platform Market?14:48
Market design v. Mechanism Design18:39
Influencing Market Design20:41
The Role of Data and Experimentation25:40
Search Advertising Auctions29:41
Current Auction Format33:55
Generalized Second Price Auction with Click-Weighting34:00
Why a real-time auction?37:43
Why a pay-per click (PPC) auction? - 137:44
Why a pay-per click (PPC) auction? - 237:44
Click-weighted auctions37:45
Extending Theory to Incorporate Platform Economics41:09
Athey-Ellison Results43:50
Consumer, Advertiser Participation Exogenous (Monopoly Platform)46:57
Competition Reduces Reserve Prices48:32
A Structural Model for Counterfactual Analysis49:32
Advertiser Order Database, Delivery Engine, Scoring Algorithm49:40
Reformulate Problem49:41
Estimates of AC(q), MC(q), and implied value for a high-value search phrase49:41
Model Predictions Out of Sample53:35
Bid Shading, Profits Per Click Vary by Position53:36
GSP is inefficient; Revenue Comparison Ambiguous53:41
“Squashing” Raises Revenue Substantially at Modest Efficiency Cost55:29
Short-Term Effects Smaller than Long-Term Limitation to Short-Term Experiments56:50
Conclusions57:31