How do different bidder preferences (e.g., risk aversion) affect bidding in a second-price auction?

Oct 24, 2024 ... In a first-price auction setting, the minimum bids don't directly sway the final auction prices. Yet, they do play a role in shaping how bidders ... Proceedings of the 31st International Conference on Machine Learning, PMLR 32(1):262-270, 2014. Abstract. Second-price auctions with reserve play a critical ... The Generalized Second Price (GSP) auction is the primary auction used for monetizing the use of the Internet. It is well-known that truthtelling is not a ... In second price auctions, advertisers bid as much money as they feel is necessary to win the auction and they are guaranteed to never overpay. We investigate the "generalized second-price" (GSP) auction, a new mechanism used by search engines to sell online advertising. Jun 17, 2015 ... Myerson (1981) shows that the second price auction with an appropriate reserve price is optimal when bidders' values are drawn i.i.d. from a ... This paper analyzes the effects of buyer and seller risk aversion in first and second-price auctions. With only two positions, this condition requires that the click–through rate of the second position is sufficiently smaller than that of the first. When an ... Apr 30, 2022 ... Second price auctions are auctions where the winner pays the second highest bid plus a small increment instead of the winning bid. For example, ... Nov 14, 2005 ... Internet Advertising and the Generalized Second Price Auction: Selling Billions of Dollars Worth of Keywords ... We investigate the "generalized ...