How can we ensure that the benefits of well-designed auction mechanisms are shared broadly across society?

We investigate the "generalized second-price" (GSP) auction, a new mechanism used by search engines to sell online advertising. In 1797 Johann Wolfgang von Goethe sold a manuscript through a second-price auction. We investigate Goethe's motivation in the context of the late eighteenth ... With multiple positions available,. GSP generalizes the second-price auction (hence the name). Here, each advertiser pays the next highest ... Sep 25, 2024 ... Google's AdExchange is finally joining the pack and migrating to a first price auction where the advertiser with the highest bid will pay the bid price. Jul 2, 2018 ... Almost all blockchains use a mechanism that is equivalent to a first-price auction: everyone submits a bid, and then if they get included they pay exactly the ... Aug 22, 2013 ... In single-item auctions, we show that an auction rule satisfies weak efficiency, strategy-proofness, and non-imposition if and only if it is ... Mar 4, 2024 ... If a buyer targeting the deal submits a bid higher than the deal's ask price and higher than any other private auction bids, that buyer wins the ... Apr 1, 2017 ... Second Price Auction with Reserve Prices - Expected Payment of Winner · Both players bid under r and there is no winner, therefore, expected ... Mar 6, 2023 ... Amazon using the second-price auction appears to be an assumption. It's assumed based on the fact that we know they don't use first-auction. eBay's auctions use a fixed-time semi-sealed-bid modified second-price (Vickery) format. This makes them fair to all potential bidders no matter their timezone ...