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Bidding to the Top: Position-based Auctions - page 16 / 23

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Key Points in Analysis (No Position Constraints)

To show that advertisers don’t envy each other in the VCG outcome, we need a handle on VCG prices of different positions relative to each other.

Without position constraints, simple relationship:

A

B

C

D

Z

.

.

.

VCG price (B) =         value(i)

i = C…Z

      price(B) = price(C) + value(C)

VCG price (C) =         value(i)

i = D…Z

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