3 Q2GSP vs. VickreyConsider a standard position auction. There are three positions: Top (T), Middle (M) andBottom (B). Position T receives xT = 150 clicks per day, position M receives M = 100 andposition B receives xB = 50 clicks per day. There are five bidders (B1-B5) with the followingdollar values per click: v1 = 12, v2 = 10, v3 = 7, v4 = 5, v5 = 3.(a) Verify whether bidding your value will be an equilibrium of the GSP auction (Google).(b) Find an equilibrium of the GSP auction (Google) with the maximum revenue.(c) Find an equilibrium of the GSP auction (Google) with the minimum revenue.(d) Find the equilibrium of the Vickrey auction (Facebook). Calculate auction revenue.

Second Price Auction Second Price Auction is the auction in which the highest bidder wins the…

Consider a standard position auction. There are three positions: Top (T), Middle (M) and Bottom (B). Position T receives rT = 150 clicks per day, position M receives M = 100 and position B receives rB = 50 clicks per day. There are five bidders (B1-B5) with the following dollar values per click: v1 = 12, v2 = 10, v3 = 7, v4 = 5, v5 = 3. %3D %3D %3D (a) Verify whether bidding your value will be an equilibrium of the GSP auction (Google). (b) Find an equilibrium of the GSP auction (Google) with the maximum revenue. (c) Find an equilibrium of the GSP auction (Google) with the minimum revenue. (d) Find the equilibrium of the Vickrey auction (Facebook). Calculate auction revenue.

Consider a standard position auction. There are three positions: Top (T), Middle (M) and Bottom (B). Position T receives rT = 150 clicks per day, position M receives M = 100 and position B receives rB = 50 clicks per day. There are five bidders (B1-B5) with the following dollar values per click: v1 = 12, v2 = 10, v3 = 7, v4 = 5, v5 = 3. %3D %3D %3D (a) Verify whether bidding your value will be an equilibrium of the GSP auction (Google). (b) Find an equilibrium of the GSP auction (Google) with the maximum revenue. (c) Find an equilibrium of the GSP auction (Google) with the minimum revenue. (d) Find the equilibrium of the Vickrey auction (Facebook). Calculate auction revenue.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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