present the firstanalysis of this hybrid advertising auction setting. The conventionalwisdom is that brand advertisers (e … bidding forclicks and bidding for impressions. The analysis implies that sellersof online advertising (a) may sometimes prefer …

Facebook and Google offer hybrid advertising auctions that allow advertisers to bid on a per-impression or a per …-click basis for the same advertising space. This paper studies the properties of equilibrium and considers how to increase …