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Reserve Prices in Internet Advertising Auctions: A Field Experiment

Michael Ostrovsky, Michael Schwarz
2009 Social Science Research Network  
We present the results of a large field experiment on setting reserve prices in auctions for online advertisements, guided by the theory of optimal auction design suitably adapted to the sponsored search  ...  Consistent with the theory, following the introduction of new reserve prices revenues in these auctions have increased substantially.  ...  Reiley (2006) reports the results of a field experiment on reserve prices in a first-price online auction for trading cards for a popular collectible card game.  ... 
doi:10.2139/ssrn.1573947 fatcat:tv7m7ezpendmln36byprv2mtma

Reserve prices in internet advertising auctions

Michael Ostrovsky, Michael Schwarz
2011 Proceedings of the 12th ACM conference on Electronic commerce - EC '11  
We present the results of a large field experiment on setting reserve prices in auctions for online advertisements, guided by the theory of optimal auction design suitably adapted to the sponsored search  ...  Consistent with the theory, following the introduction of new reserve prices revenues in these auctions have increased substantially.  ...  Reiley (2006) reports the results of a field experiment on reserve prices in a first-price online auction for trading cards for a popular collectible card game.  ... 
doi:10.1145/1993574.1993585 dblp:conf/sigecom/OstrovskyS11 fatcat:msct76lbwfbyrgmijeqj5scbbu

Online Auctions [chapter]

Ravi Bapna, Alok Gupta
2001 The E-Business Handbook  
Lucking-Reiley (1999b) describes controlled experiments, conducted on the Internet, to verify a variety of theoretical properties of electronic auctions by manipulating the reserve prices in these auctions  ...  Lucking-Reiley (1999a) tests revenue equivalence through his field experiments auctioning Magic game cards.  ... 
doi:10.1201/9781420025477.ch5 fatcat:svh6s64dsrcfhhqpaffebvun2i

Bidders' Responses to Auction Format Change in Internet Display Advertising Auctions [article]

Shumpei Goke, Gabriel Y. Weintraub, Ralph Mastromonaco, Sam Seljan
2022 arXiv   pre-print
More specifically, we investigate this question using a novel dataset on internet display advertising auctions that exploits a staggered adoption by different publishers (sellers) of first-price auctions  ...  Further, we observe that in later auction format changes the increase in the price levels under FPAs relative to price levels under SPAs dissipates over time, reminiscent of the celebrated revenue equivalence  ...  Conclusion Using the data of internet display advertising auctions, we have analyzed the impacts of auction format change from second-price auctions (SPAs) to first-price auctions (FPAs).  ... 
arXiv:2110.13814v2 fatcat:s454nzemvrhupbpwaiguna4gmu

Online field experiments: a selective survey of methods

Yan Chen, Joseph Konstan
2015 Journal of the Economic Science Association  
Keyword Online field experiment Á A/B testing Á Internet JEL Classification C93 Á H41  ...  The Internet presents today's researchers with unprecedented opportunities to conduct field experiments.  ...  Bakshy, Tawanna Dillahunt, Sara Kiesler, Nancy Kotzian, Robert Kraut, David Reiley, Katharina Reinecke, Paul Resnick, John Riedl and Loren Terveen, for helpful conversations on the topic and comments on a  ... 
doi:10.1007/s40881-015-0005-3 fatcat:csn7y6oisfeu5hl67ahak3nkge

Learning in Repeated Auctions

Thomas Nedelec, Clément Calauzènes, Noureddine El Karoui, Vianney Perchet
2022 Foundations and Trends® in Machine Learning  
The first largescale field experiment in production showed how engineers at Yahoo could handle their huge datasets to learn an optimal reserve price per key word (Ostrovsky and Schwarz, 2011) .  ...  A particularly interesting example is that of reserve price improvements for strategic buyers in second price auctions.  ... 
doi:10.1561/2200000077 fatcat:6xfahzawhvhntenr2viarfc5pq

Sponsored Search Auctions

Tao Qin, Wei Chen, Tie-Yan Liu
2015 ACM Transactions on Intelligent Systems and Technology  
In this paper, we provide a comprehensive review of sponsored search auctions, in hope to help both industry practitioners and academic researchers to get familiar with this field, to know the state of  ...  Under these assumptions, we first introduce the generalized second price (GSP) auction, which is the most popularly used auction mechanism in the industry.  ...  INTRODUCTION Online advertising has become a key business model for Internet companies.  ... 
doi:10.1145/2668108 fatcat:7ocmfzjpr5b4vk3or4wvivcbyq

Competition between auctions

Ernan Haruvy, Peter T. L. Popkowski Leszczyc, Octavian Carare, James C. Cox, Eric A. Greenleaf, Wolfgang Jank, Sandy Jap, Young-Hoon Park, Michael H. Rothkopf
2008 Marketing letters  
Auction research is widespread in many fields of business research, social sciences, computer sciences and statistics.  ...  We highlight the newest experimental, statistical and analytical methods in the analysis of competition between auctions.  ...  In their experimental investigation, bidders could choose between an ascending auction and a sealed bid auction with various entry prices.  ... 
doi:10.1007/s11002-008-9037-2 fatcat:4nd3scsrb5e7bk5qamzgvlhsiu

Competition Between Auctions

Ernan Haruvy, Peter T. L. Popkowski Leszczyc, Octavian Carare, James C. Cox, Eric Greenleaf, Wolfgang Jank, Sandy D. Jap, Young-Hoon Park, Michael H. Rothkopf
2009 Social Science Research Network  
We highlight the newest experimental, statistical, and analytical methods in the analysis of competition between auctions.  ...  That is, an auction is typically treated as a single seller facing multiple buyers or as a single buyer facing multiple sellers.  ...  Mike was a great scholar and one of the big experts in the areas of auctions. It has been a privilege to have Mike participate in this choice symposium and to co-author with him on this paper.  ... 
doi:10.2139/ssrn.1377542 fatcat:kr4g4ixcu5ekxkt42nwijfis2y

Advances in Auctions

Todd R. Kaplan, Shmuel Zamir
2014 Social Science Research Network  
ACKNOWLEDGMENTS We thank René Kirkegaard Guala (2001) for a discussion on how experiments are a useful part of spectrum auction design. 53 We refer the reader to the book of Marshall and Marx (2012  ...  ) and papers by Skrzypacz and Hopenhayn (2004) , Che and Kim (2006 ), Pavlov (2008 , Garratt et al. (2009 ), and Rachmilevitch (2013a ,b, 2014 for collusion in auctions, Che and Gale (1996, 1998b  ...  of advertisements based upon the keywords used in an internet search.  ... 
doi:10.2139/ssrn.2412429 fatcat:ai7qi2xwmzgsln7atj2jvqnuha

Advances in Auctions [chapter]

Todd R. Kaplan, Shmuel Zamir
2015 Handbook of Game Theory with Economic Applications  
ACKNOWLEDGMENTS We thank René Kirkegaard Guala (2001) for a discussion on how experiments are a useful part of spectrum auction design. 53 We refer the reader to the book of Marshall and Marx (2012  ...  ) and papers by Skrzypacz and Hopenhayn (2004) , Che and Kim (2006 ), Pavlov (2008 , Garratt et al. (2009 ), and Rachmilevitch (2013a ,b, 2014 for collusion in auctions, Che and Gale (1996, 1998b  ...  of advertisements based upon the keywords used in an internet search.  ... 
doi:10.1016/b978-0-444-53766-9.00007-0 fatcat:3wclc3dnhzhthk7qz6ijkse6lm

Information Disclosure as a Matching Mechanism: Theory and Evidence from a Field Experiment

Steven Tadelis, Florian Zettelmeyer
2011 Social Science Research Network  
We measure the effect of information disclosure on market outcomes using a large-scale field experiment that randomly discloses information about quality in wholesale automobile auctions.  ...  These findings have implications for the design of other markets, including e-commerce, procurement auctions, and labor markets.  ...  We test our hypotheses using a unique randomized field experiment.  ... 
doi:10.2139/ssrn.1872465 fatcat:n2ixokzzpbbwxaeq3ct4asvkie

Auctions: Research Opportunities in Marketing

Dipankar Chakravarti, Eric Greenleaf, Atanu Sinha, Amar Cheema, James C. Cox, Daniel Friedman, Teck H. Ho, R. Mark Isaac, Andrew A. Mitchell, Amnon Rapoport, Michael H. Rothkopf, Joydeep Srivastava (+1 others)
2002 Marketing letters  
We provide a brief description of the major auction mechanisms, outline key concepts and results from the economic analysis of auctions, and summarize the key findings in empirical tests of auction theory  ...  Despite growing interest in traditional and Internet auctions, the marketing literature on auctions is sparse. This paper outlines selected aspects of the research opportunity.  ...  In first-and second-price auctions, the more risk-averse a seller, the lower the optimal reserve price.  ... 
doi:10.1023/a:1020399513113 fatcat:gqlahow27bhltcszvrqn7aotzq

Information Disclosure as a Matching Mechanism: Theory and Evidence from a Field Experiment

Steven Tadelis, Florian Zettelmeyer
2015 The American Economic Review  
We measure the effect of information disclosure on market outcomes using a large-scale field experiment that randomly discloses information about quality in wholesale automobile auctions.  ...  These findings have implications for the design of other markets, including e-commerce, procurement auctions, and labor markets.  ...  We test our hypotheses using a unique randomized field experiment.  ... 
doi:10.1257/aer.20110753 fatcat:je7i7g723va55m7j47s5zt7uli

Field Experiments: A Bridge between Lab and Naturally Occurring Data

John A. List
2007 Advances in Economic Analysis & Policy  
This study discusses a related approach that has increasingly grown in prominence of late--field experiments.  ...  of results for a large class of experimental laboratory games. 1 Field experiments can also provide insights similar to lessons learned from laboratory experiments that Roth (1995) discusses (speaking  ...  More specifically, it designs a field experiment to compare outcomes in auctions with secret versus public reserve prices. The authors' auctioned 50 matched pairs of Pokeman trading cards on eBay.  ... 
doi:10.2202/1538-0637.1747 fatcat:w42vr4cadnc2jo5k6y4ec6ugli
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