How does the concept of efficiency relate to the outcome of a second-price auction?

Dec 19, 2007 ... This article further studies ex ante efficient auctions in the setting of Stegeman (1996 Participation costs and efficient auctions, Journal of Economic Theory ... Apr 22, 2020 ... A new study has found that the move is more likely due to an industry-wide adoption of header bidding. Abstract. We consider equilibrium bidding behavior in a dynamic second price auction where agents have the option to increase bids at random times and values ... A Second Price Auction (sometimes referred to as a Vickrey Auction) is where each bidder submits a bid which is the highest amount they are willing to pay. The ... We propose a new auction format called the boosted second-price auction, which favors bidders with lower inverse hazard rates (IHRs), roughly speaking, bidders ... Second price auction is a type of auction model used in programmatic advertising. As advertisers bid for ad impressions, the highest bidder wins — but there's a ... Each bidder places a bid. The highest bidder gets the first slot, the second-highest, the second slot and so on, but the highest bidder pays the price bid by ... 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 ... Aug 12, 2017 ... We propose an auction format called the boosted second price auction, which assigns a boost value to each bidder. With only one slot, GSP is identical to the standard second price auction (a.k.a. Vickrey, VCG). • With multiple slots, the mechanisms are different. – GSP ...