Title: “Bidding for Multiple Keywords in Search-Based Advertising” by Savaş Dayanık, Bilkent University, Department of Industrial Engineering
October 21, Friday 13:40
Search-based advertisement allows small-to-medium size companies to use more effectively their advertisement budgets to target their potential customers. The advertisers manage this by bidding for a place on the result pages for several search keywords relevant to their products and services. The customer flow rates to the advertiser business pages change with the placements of advertisements on the pages, which are determined by the bidding prices of the advertisers in closed second-price auctions. We model the bidding process and calculate optimal dynamic bidding prices for several keywords subject to a single daily advertisement budget.
(This is joint work with Semih Onur Sezer, Sabancı University)
Savaş Dayanık is an associate professor jointly in the Departments of Industrial Engineering and Mathematics. He received his B.S. (1994) and M.S. (1996) in industrial engineering from Bilkent University and his Ph.D. (2002) in applied probability from Columbia University. After serving on the faculty of Princeton University between 2002 and 2009, he joined Bilkent University. His research interests are in applied probability, stochastic modeling, and statistical learning. His work on optimal stopping and change detection were recognized with George Nicholson Student and Junior Faculty Interest Group Paper Awards by the INFORMS and with Tweedie New Researcher Award by the Institute of Mathematical Statistics.