论文标题
公用事业最大化器或价值最大化器:在线广告中混合竞标者的机制设计
Utility Maximizer or Value Maximizer: Mechanism Design for Mixed Bidders in Online Advertising
论文作者
论文摘要
数字广告构成在线平台的主要收入来源之一。近年来,一些广告商倾向于采用自动铸造工具来促进广告性能优化,从而使拍卖理论中的经典\ emph {实用程序最大化器}模型不太合适。最近的一些研究提出了一个新模型,称为\ emph {value maximizer},用于具有返回投资(ROI)约束的自动投标广告商。但是,实用程序最大化器或价值最大化器的模型只能表征现实世界广告平台中的部分广告客户。在效用最大化器和价值最大化器并存的混合环境中,真实的AD拍卖设计将具有挑战性,因为投标人可以操纵其价值和附属类别,从而导致多参数机理设计问题。在这项工作中,我们通过提出一项付款规则来解决此问题,该规则以新颖的方式将相应的VCG和GSP机制结合在一起。基于此付款规则,我们提出了一种真实的拍卖机制,其社会福利的近似值为$ 2 $,该机制接近我们也证明的至少$ \ frac {5} {4} $的下限。设计的拍卖机制是对效用最大化器的VCG的概括,而GSP则是对价值最大化器的概括。
Digital advertising constitutes one of the main revenue sources for online platforms. In recent years, some advertisers tend to adopt auto-bidding tools to facilitate advertising performance optimization, making the classical \emph{utility maximizer} model in auction theory not fit well. Some recent studies proposed a new model, called \emph{value maximizer}, for auto-bidding advertisers with return-on-investment (ROI) constraints. However, the model of either utility maximizer or value maximizer could only characterize partial advertisers in real-world advertising platforms. In a mixed environment where utility maximizers and value maximizers coexist, the truthful ad auction design would be challenging since bidders could manipulate both their values and affiliated classes, leading to a multi-parameter mechanism design problem. In this work, we address this issue by proposing a payment rule which combines the corresponding ones in classical VCG and GSP mechanisms in a novel way. Based on this payment rule, we propose a truthful auction mechanism with an approximation ratio of $2$ on social welfare, which is close to the lower bound of at least $\frac{5}{4}$ that we also prove. The designed auction mechanism is a generalization of VCG for utility maximizers and GSP for value maximizers.