3,430 research outputs found

    Multi-keyword multi-click advertisement option contracts for sponsored search

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    In sponsored search, advertisement (abbreviated ad) slots are usually sold by a search engine to an advertiser through an auction mechanism in which advertisers bid on keywords. In theory, auction mechanisms have many desirable economic properties. However, keyword auctions have a number of limitations including: the uncertainty in payment prices for advertisers; the volatility in the search engine's revenue; and the weak loyalty between advertiser and search engine. In this paper we propose a special ad option that alleviates these problems. In our proposal, an advertiser can purchase an option from a search engine in advance by paying an upfront fee, known as the option price. He then has the right, but no obligation, to purchase among the pre-specified set of keywords at the fixed cost-per-clicks (CPCs) for a specified number of clicks in a specified period of time. The proposed option is closely related to a special exotic option in finance that contains multiple underlying assets (multi-keyword) and is also multi-exercisable (multi-click). This novel structure has many benefits: advertisers can have reduced uncertainty in advertising; the search engine can improve the advertisers' loyalty as well as obtain a stable and increased expected revenue over time. Since the proposed ad option can be implemented in conjunction with the existing keyword auctions, the option price and corresponding fixed CPCs must be set such that there is no arbitrage between the two markets. Option pricing methods are discussed and our experimental results validate the development. Compared to keyword auctions, a search engine can have an increased expected revenue by selling an ad option.Comment: Chen, Bowei and Wang, Jun and Cox, Ingemar J. and Kankanhalli, Mohan S. (2015) Multi-keyword multi-click advertisement option contracts for sponsored search. ACM Transactions on Intelligent Systems and Technology, 7 (1). pp. 1-29. ISSN: 2157-690

    Information is not a Virus, and Other Consequences of Human Cognitive Limits

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    The many decisions people make about what to pay attention to online shape the spread of information in online social networks. Due to the constraints of available time and cognitive resources, the ease of discovery strongly impacts how people allocate their attention to social media content. As a consequence, the position of information in an individual's social feed, as well as explicit social signals about its popularity, determine whether it will be seen, and the likelihood that it will be shared with followers. Accounting for these cognitive limits simplifies mechanics of information diffusion in online social networks and explains puzzling empirical observations: (i) information generally fails to spread in social media and (ii) highly connected people are less likely to re-share information. Studies of information diffusion on different social media platforms reviewed here suggest that the interplay between human cognitive limits and network structure differentiates the spread of information from other social contagions, such as the spread of a virus through a population.Comment: accepted for publication in Future Interne

    Computational aspects of voting: a literature survey

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    Preference aggregation is a topic of study in different fields such as philosophy, mathematics, economics and political science. Recently, computational aspects of preference aggregation have gained especial attention and “computational politics” has emerged as a marked line of research in computer science with a clear concentration on voting protocols. The field of voting systems, rooted in social choice theory, has expanded notably in both depth and breadth in the last few decades. A significant amount of this growth comes from studies concerning the computational aspects of voting systems. This thesis comprehensively reviews the work on voting systems (from a computing perspective) by listing, classifying and comparing the results obtained by different researchers in the field. This survey covers a wide range of new and historical results yet provides a profound commentary on related work as individual studies and in relation to other related work and to the field in general. The deliverables serve as an overview where students and novice researchers in the field can start and also as a depository that can be referred to when searching for specific results. A comprehensive literature survey of the computational aspects of voting is a task that has not been undertaken yet and is initially realized here. Part of this research was dedicated to creating a web-depository that contains material and references related to the topic based on the survey. The purpose was to create a dynamic version of the survey that can be updated with latest findings and as an online practical reference

    A dynamic pricing model for unifying programmatic guarantee and real-time bidding in display advertising

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    There are two major ways of selling impressions in display advertising. They are either sold in spot through auction mechanisms or in advance via guaranteed contracts. The former has achieved a significant automation via real-time bidding (RTB); however, the latter is still mainly done over the counter through direct sales. This paper proposes a mathematical model that allocates and prices the future impressions between real-time auctions and guaranteed contracts. Under conventional economic assumptions, our model shows that the two ways can be seamless combined programmatically and the publisher's revenue can be maximized via price discrimination and optimal allocation. We consider advertisers are risk-averse, and they would be willing to purchase guaranteed impressions if the total costs are less than their private values. We also consider that an advertiser's purchase behavior can be affected by both the guaranteed price and the time interval between the purchase time and the impression delivery date. Our solution suggests an optimal percentage of future impressions to sell in advance and provides an explicit formula to calculate at what prices to sell. We find that the optimal guaranteed prices are dynamic and are non-decreasing over time. We evaluate our method with RTB datasets and find that the model adopts different strategies in allocation and pricing according to the level of competition. From the experiments we find that, in a less competitive market, lower prices of the guaranteed contracts will encourage the purchase in advance and the revenue gain is mainly contributed by the increased competition in future RTB. In a highly competitive market, advertisers are more willing to purchase the guaranteed contracts and thus higher prices are expected. The revenue gain is largely contributed by the guaranteed selling.Comment: Chen, Bowei and Yuan, Shuai and Wang, Jun (2014) A dynamic pricing model for unifying programmatic guarantee and real-time bidding in display advertising. In: The Eighth International Workshop on Data Mining for Online Advertising, 24 - 27 August 2014, New York Cit
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