BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//wp-events-plugin.com//7.2.3.1//EN
TZID:America/New_York
X-WR-TIMEZONE:America/New_York
BEGIN:VEVENT
UID:850@fds.yale.edu
DTSTART;TZID=America/New_York:20250324T160000
DTEND;TZID=America/New_York:20250324T170000
DTSTAMP:20250916T142148Z
URL:https://fds.yale.edu/events/fds-cadmy-research-in-motion-colloquium-ni
 colas-stier-moses-meta-pacing-mechanisms-for-ad-auctions/
SUMMARY:FDS/CADMY Research in Motion Colloquium: Nicolas Stier-Moses (Meta)
 \, "Pacing Mechanisms For Ad Auctions"
DESCRIPTION:\nResearch in Motion Series is co-hosted by the Center for Algo
 rithms\, Data\, and Market Design at Yale (CADMY) and the Yale Institute f
 or Foundations of Data Science (FDS).\n\n\n\nAbstract: Budgets play a sign
 ificant role in real-world sequential auction markets such as those implem
 ented by Internet companies. To maximize the value provided to auction par
 ticipants\, spending is smoothed across auctions so budgets are used for t
 he best opportunities. Motivated by pacing mechanisms used in practice by 
 online ad auction platforms\, we discuss smoothing procedures that ensure 
 that campaign daily budgets are consistent with maximum bids. Reinterpreti
 ng this process as a game between bidders\, we introduce the notion of pac
 ing equilibrium\, and study properties such as existence\, uniqueness\, co
 mplexity and efficiency. Connecting these results to more general notions 
 of market equilibria\, we use the models to address experimentation in two
  sided markets. We propose a parallel budget-controlled A/B testing design
  where we use market segmentation to identify submarkets in the larger mar
 ket\, and we run parallel budget-split experiments in each submarket.\n\n\
 n\nSpeaker bio: Nicolas is a Director at Meta and supports the Central App
 lied Science team. His work and that of the team leverage innovative resea
 rch to drive impact to the company's products\, such as Facebook and Insta
 gram\, as well as to improve Meta's infrastructure and processes. The team
  draws from a rich and diverse set of disciplines including Operations\, A
 lgorithms\, Machine Learning\, Statistics\, Economics\, Mechanism Design\,
  Experimentation\, and Privacy Preserving Machine Learning. Prior to joini
 ng Meta\, Nicolas was an Associate Professor at the Decision\, Risk and Op
 erations Division of Columbia Business School and at the Business School o
 f Universidad Torcuato Di Tella. He received a Ph.D. degree from the Opera
 tions Research Center at the Massachusetts Institute of Technology.\n\n\n\
 nhttps://sites.google.com/site/nicostier/home\n
CATEGORIES:FDS Events,FDS/CADMY Colloquium
LOCATION:17 Hillhouse Ave\, 3rd floor\, \, 
X-APPLE-STRUCTURED-LOCATION;VALUE=URI;X-ADDRESS=\, ;X-APPLE-RADIUS=100;X-TI
 TLE=17 Hillhouse Ave\, 3rd floor:geo:0,0
END:VEVENT
BEGIN:VTIMEZONE
TZID:America/New_York
X-LIC-LOCATION:America/New_York
BEGIN:DAYLIGHT
DTSTART:20250309T030000
TZOFFSETFROM:-0500
TZOFFSETTO:-0400
TZNAME:EDT
END:DAYLIGHT
END:VTIMEZONE
END:VCALENDAR