The VCG Auction in Theory and Practice

We describe two auction forms for search engine advertising and present two simple theoretical results concerning i) the estimation of click-through rates and ii) how to adjust the auctions for broad match search. We also describe some of the practical issues involved in implementing a VCG auction.

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Year of publication:	2014
Authors:	Varian, Hal R. ; Harris, Christopher
Published in:	American Economic Review. - American Economic Association - AEA. - Vol. 104.2014, 5, p. 442-45
Publisher:	American Economic Association - AEA

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Extent:	application/pdf application/zip
Type of publication:	Article
Notes:	DOI: 10.1257/aer.104.5.442
Classification:	D44 - Auctions
Source:	RePEc - Research Papers in Economics

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