Marketing agencies and collusive bidding in online ad auctions
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- dc.contributor.author Decarolis, Francesco
- dc.contributor.author Goldmanis, Maris
- dc.contributor.author Penta, Antonio
- dc.date.accessioned 2020-09-25T08:35:46Z
- dc.date.available 2020-09-25T08:35:46Z
- dc.date.issued 2020
- dc.description.abstract The transition of the advertising market from traditional media to the internet has induced a proliferation of marketing agencies specialized in bidding in the auctions that are used to sell ad space on the web. We analyze how collusive bidding can emerge from bid delegation to a common marketing agency and how this can undermine the revenues and allocative efficiency of both the generalized second-price auction (GSP, used by Google, Microsoft Bing, and Yahoo!) and the Vickrey–Clarke–Groves (VCG) mechanism (used by Facebook). We find that despite its well-known susceptibility to collusion, the VCG mechanism outperforms the GSP auction in terms of both revenues and efficiency.en
- dc.description.sponsorship A. Penta acknowledgesfinancial support from the European Research Council Starting Grant[Grant 759424].
- dc.format.mimetype application/pdf
- dc.identifier.citation Decarolis F, Goldmanis M, Penta A. Marketing agencies and collusive bidding in online ad auctions. Management science. 2020;66(10):4433–54. DOI: 10.1287/mnsc.2019.3457
- dc.identifier.doi http://dx.doi.org/10.1287/mnsc.2019.3457
- dc.identifier.issn 0025-1909
- dc.identifier.uri http://hdl.handle.net/10230/45339
- dc.language.iso eng
- dc.publisher INFORMS
- dc.relation.ispartof Management science. 2020:66(10):4433–54.
- dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/759424
- dc.rights © 2020 INFORMS
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.subject.keyword Collusionen
- dc.subject.keyword Digital marketing agenciesen
- dc.subject.keyword Facebooken
- dc.subject.keyword Googleen
- dc.subject.keyword GSP
- dc.subject.keyword Internet auctionsen
- dc.subject.keyword Online advertisingen
- dc.subject.keyword VCG
- dc.title Marketing agencies and collusive bidding in online ad auctions
- dc.type info:eu-repo/semantics/article
- dc.type.version info:eu-repo/semantics/acceptedVersion