{"id":"https://openalex.org/W3012804701","doi":"https://doi.org/10.1145/3366423.3380142","title":"Why Do Competitive Markets Converge to First-Price Auctions?","display_name":"Why Do Competitive Markets Converge to First-Price Auctions?","publication_year":2020,"publication_date":"2020-04-20","ids":{"openalex":"https://openalex.org/W3012804701","doi":"https://doi.org/10.1145/3366423.3380142","mag":"3012804701"},"language":"en","primary_location":{"id":"doi:10.1145/3366423.3380142","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3366423.3380142","pdf_url":null,"source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of The Web Conference 2020","raw_type":"proceedings-article"},"type":"conference-paper","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://doi.org/10.1145/3366423.3380142","any_repository_has_fulltext":null},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5019999334","display_name":"Renato Paes Leme","orcid":"https://orcid.org/0000-0002-9799-5766"},"institutions":[{"id":"https://openalex.org/I1291425158","display_name":"Google (United States)","ror":"https://ror.org/00njsd438","country_code":"US","type":"company","lineage":["https://openalex.org/I1291425158","https://openalex.org/I4210128969"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Renato Paes Leme","raw_affiliation_strings":["Google"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Google","institution_ids":["https://openalex.org/I1291425158"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5012130366","display_name":"Balasubramanian Sivan","orcid":"https://orcid.org/0000-0002-0188-7622"},"institutions":[{"id":"https://openalex.org/I1291425158","display_name":"Google (United States)","ror":"https://ror.org/00njsd438","country_code":"US","type":"company","lineage":["https://openalex.org/I1291425158","https://openalex.org/I4210128969"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Balasubramanian Sivan","raw_affiliation_strings":["Google"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Google","institution_ids":["https://openalex.org/I1291425158"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5003604562","display_name":"Yifeng Teng","orcid":"https://orcid.org/0000-0002-4824-3840"},"institutions":[{"id":"https://openalex.org/I135310074","display_name":"University of Wisconsin\u2013Madison","ror":"https://ror.org/01y2jtd41","country_code":"US","type":"education","lineage":["https://openalex.org/I135310074"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Yifeng Teng","raw_affiliation_strings":["University of Wisconsin-Madison"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Wisconsin-Madison","institution_ids":["https://openalex.org/I135310074"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":20,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":"596","last_page":"605"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11161","display_name":"Consumer Market Behavior and Pricing","score":0.9984999895095825,"subfield":{"id":"https://openalex.org/subfields/1406","display_name":"Marketing"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11043","display_name":"Merger and Competition Analysis","score":0.9952999949455261,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/common-value-auction","display_name":"Common value auction","score":0.7389136552810669},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.4356803894042969},{"id":"https://openalex.org/keywords/industrial-organization","display_name":"Industrial organization","score":0.39814865589141846},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.3132954239845276},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.3025868535041809}],"concepts":[{"id":"https://openalex.org/C163239763","wikidata":"https://www.wikidata.org/wiki/Q5153637","display_name":"Common value auction","level":2,"score":0.7389136552810669},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.4356803894042969},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.39814865589141846},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3132954239845276},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3025868535041809}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1145/3366423.3380142","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3366423.3380142","pdf_url":null,"source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of The Web Conference 2020","raw_type":"proceedings-article"}],"best_oa_location":{"id":"doi:10.1145/3366423.3380142","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3366423.3380142","pdf_url":null,"source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of The Web Conference 2020","raw_type":"proceedings-article"},"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":6,"referenced_works":["https://openalex.org/W2015007620","https://openalex.org/W2062287401","https://openalex.org/W2104188336","https://openalex.org/W2160640936","https://openalex.org/W2167922736","https://openalex.org/W3121836495"],"related_works":["https://openalex.org/W4391375266","https://openalex.org/W3121315611","https://openalex.org/W2094128433","https://openalex.org/W1526980154","https://openalex.org/W3122007008","https://openalex.org/W2110981230","https://openalex.org/W2539865362","https://openalex.org/W3143666551","https://openalex.org/W2752626891","https://openalex.org/W1973197197"],"abstract_inverted_index":{"We":[0,23],"consider":[1],"a":[2,29,34,88,107],"setting":[3,26],"in":[4,8,54,82,91,110],"which":[5],"bidders":[6],"participate":[7],"multiple":[9],"auctions":[10,68],"run":[11],"by":[12,27],"different":[13],"sellers,":[14,32],"and":[15,70,95],"optimize":[16],"their":[17],"bids":[18],"for":[19,100],"the":[20,51,55,78,102],"aggregate":[21],"auction.":[22],"analyze":[24],"this":[25],"formulating":[28],"game":[30],"between":[31],"where":[33],"seller\u2019s":[35],"strategy":[36],"is":[37],"to":[38,42,47,75,87],"pick":[39],"an":[40,98],"auction":[41,90,104],"run.":[43],"Our":[44,93],"analysis":[45],"aims":[46],"shed":[48],"light":[49],"on":[50],"recent":[52],"change":[53],"Display":[56],"Ads":[57],"market":[58],"landscape:":[59],"here,":[60],"ad":[61],"exchanges":[62],"(sellers)":[63],"were":[64],"mostly":[65],"running":[66],"second-price":[67],"earlier":[69],"over":[71],"time":[72],"they":[73],"switched":[74],"variants":[76],"of":[77],"first-price":[79,89,103],"auction,":[80],"culminating":[81],"Google\u2019s":[83],"Ad":[84],"Exchange":[85],"moving":[86],"2019.":[92],"model":[94],"results":[96],"offer":[97],"explanation":[99],"why":[101],"occurs":[105],"as":[106],"natural":[108],"equilibrium":[109],"such":[111],"competitive":[112],"markets.":[113]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":6}],"updated_date":"2026-07-14T23:27:15.235271","created_date":"2025-10-10T00:00:00"}