Keyword Auctions , Unit-Price Contracts , and the Role of Commitment

  title={Keyword Auctions , Unit-Price Contracts , and the Role of Commitment},
  author={Jianqing Chen and Andrew B. Whinston},
Motivated by the enormous growth of keyword advertising, this paper explores the design of performance-based unitprice contract auctions, in which bidders bid their unit prices and the winner is chosen based on both their bids and performance levels. The previous literature on unit-price contract auctions usually considers a static case where bidders’ performance levels are fixed. This paper studies a dynamic setting in which bidders with a low performance level can improve their performance at… CONTINUE READING

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