This e-book provides an in-depth analysis of the Generalized Second-Price (GSP) auction system used by search engines for online advertising. It discusses the distinction between GSP and the ideal Vickrey-Clarke-Groves (VCG) auctions, the concept of "locally envy-free" equilibria, and introduces a related auction process, the "generalized English auction". The book provides valuable insights for understanding the dynamics of internet advertising.
Unraveling the Generalized Second-Price Auction Mechanism in Internet Advertising
Exploring the workings of the Generalized Second-Price auction in internet advertising and its role in keyword sales.
Comparing GSP and VCG: The Rapid Evolution of Online Advertising Auctions
Explore the evolution of online advertising auctions, specifically comparing the Generalized Second-Price (GSP) to the Vickrey-Clarke-Groves (VCG) models.
Making Sense of Nash Equilibrium in Generalized Second-Price Auction
Unravel the logic of the Nash Equilibrium in Generalized Second-Price Auctions used in internet advertising.
Introduction to the Generalized English Auction: A Dynamic Counterpart of GSP
Explore the Generalized English Auction, a dynamic counterpart of GSP, in the field of internet advertising.
Practical Implications of GSP Auctions in the Real World
Explore the nuances of GSP auctions in online advertising, analyzing their real-world applications and theoretical limitations.
Economic Implications and Future Prospects of GSP Auctions.
Explore the financial consequences and future outcomes of Generalized Second-Price (GSP) auctions in internet advertising.
