Arnold, Michael; Darmon, Éric; Pénard, Thierry - Centre de Recherche en Économie et Management (CREM) - 2012
In 2010 sponsored search advertisements generated over $12 billion in revenue for search engines in the US market and accounted for 46% of online advertising revenue. A substantial portion of this revenue was generated by the sale of search keywords using an auction mechanism. We analyze a...