On Best-Response Bidding in Ad Auctions

Опубликовано 6 сентября 2016, 17:16

A fundamental problem faced by advertisers bidding for slots in a keyword auction is how to bid so as to maximize their profit. In this talk, we describe and analyze a class of best-response bidding strategies for a repeated auction on a single keyword. These bidding strategies are simple and easily implementable, and also, as we show, achieve several desirable criteria for the advertisers. In the talk, we describe our theoretical and empirical results on the revenue, convergence and robustness properties of these strategies. We assume no prior technical knowledge and all the game theoretic concepts required will be introduced during the talk. Joint work with M. Cary, A. Das, B. Edelman, K. Heimerl, A. Karlin, C. Mathieu and M. Schwarz