imization in Real-Time Bidding

Goal: 

* Report the first empirical study and live test of the reserve price optimization problem in the context of Real-Time Bidding (RTB) display advertising from an operational environment and show that the proposed game theory based OneShot algorithm performed the best. 

Core Ideas: 

* A reserve price defines the minimum that a publisher would accept from bidders. It reflects the publisher’s private valuation of the inventory: bids will be discarded if they are below the reserve price (1). 
* One iteration usually finishes in less than 100ms to achieve users' satisfactory (2). 
* In practice, there are drawbacks of the optimal auction theory mostly due to the difficulty of learning bidders’ private values, e.g., $F(x)$. Firstly, a bidder could have a complex private value distribution for impressions.

## References 

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