Online ad auctions : an experiment

Kevin McLaughlin, Daniel Friedman

A human subject laboratory experiment compares the real-time market performance of the two most popular auction formats for online ad space, Vickrey- Clarke-Groves (VCG) and Generalized Second Price (GSP). Theoretical predictions made in papers by Varian (2007) and Edelman et al. (2007) seem to organize the data well overall. Efficiency under VCG exceeds that under GSP in nearly all treatments. The difference is economically significant in the more competitive parameter configurations and is statistically significant in most treatments. Revenue capture tends to be similar across auction formats in most treatments.

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Year of publication:	February 2016 ; This version: February 16, 2016
Authors:	McLaughlin, Kevin ; Friedman, Daniel
Publisher:	Berlin : WZB, Wissenschaftszentrum Berlin für Sozialforschung
Subject:	Laboratory Experiments \| Auction \| Online Auctions \| Advertising \| Experiment \| Auktionstheorie \| Auction theory \| Auktion \| Internet-Auktion \| Online auction

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Extent:	1 Online-Ressource (circa 39 Seiten) Illustrationen
Series:	Discussion paper / Wissenschaftszentrum Berlin für Sozialforschung, Research Area Markets and Choice Research Professorship Market Design: Theory and Pragmatics. - Berlin : WZB, ZDB-ID 2841221-7. - Vol. SP II 2016-501
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/129114 [Handle]
Classification:	C92 - Laboratory; Group Behavior ; D44 - Auctions ; L11 - Production, Pricing, and Market Structure Size; Size Distribution of Firms ; L81 - Retail and Wholesale Trade; Warehousing ; M3 - Marketing and Advertising
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011433875