How does the second-price auction relate to auctions for art and collectibles?

Oct 19, 2022 ... We study reserve price optimization in multi-phase second price auctions, where seller's prior actions affect the bidders' later valuations ... We investigate the "generalized second-price" (GSP) auction, a new mechanism used by search engines to sell online advertising. Jul 11, 2024 ... In this scenario, when both floors are implemented, bids that are lower than the hard floor are rejected instantly; whereas bids that are in ... Oct 24, 2019 ... A second-price auction is the auction where the winner of the auction pays not his own bid but the second highest bid. We present results from second price private value auction (SPA) experiments where bidders may receive noisy signals about their opponents value. Such ... Feb 26, 2025 ... A second-price auction is cost-effective because the highest bidder pays the second-highest bid plus 1 to 5 cents, depending on the ad network. Apr 22, 2020 ... A new study has found that the move is more likely due to an industry-wide adoption of header bidding. 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 ... Proceedings of the 31st International Conference on Machine Learning, PMLR 32(1):262-270, 2014. Abstract. Second-price auctions with reserve play a critical ... First-Price Auction: Digital buying model where if your bid wins, you pay exactly what you bid. This maximizes revenue potential for the seller.