RTB Formulation Using Point Process

• URL: http://arxiv.org/abs/2308.09122v1
• Date: Thu, 17 Aug 2023 17:57:59 GMT
• Title: RTB Formulation Using Point Process
• Authors: Seong Jin Lee, Bumsik Kim
• Abstract summary: We propose a general framework for modelling repeated auctions in the Real Time Bidding (RTB) ecosystem using point processes. We specify the player's optimal strategy under various scenarios. It is critical to consider the joint distribution of utility and market condition instead of estimating the marginal distributions independently.
• Score: 1.7132914341329852
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: We propose a general stochastic framework for modelling repeated auctions in the Real Time Bidding (RTB) ecosystem using point processes. The flexibility of the framework allows a variety of auction scenarios including configuration of information provided to player, determination of auction winner and quantification of utility gained from each auctions. We propose theoretical results on how this formulation of process can be approximated to a Poisson point process, which enables the analyzer to take advantage of well-established properties. Under this framework, we specify the player's optimal strategy under various scenarios. We also emphasize that it is critical to consider the joint distribution of utility and market condition instead of estimating the marginal distributions independently.

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