Budget-Constrained Auctions with Unassured Priors: Strategic Equivalence and Structural Properties

Understand

In today's online advertising markets, it is common for advertisers to set long-term budgets.

• Correspondingly, advertising platforms adopt budget control methods to ensure that advertisers' payments lie within their budgets.
• Most budget control methods rely on the value distributions of advertisers.
• However, due to the complex advertising landscape and potential privacy concerns, the platform hardly learns advertisers' true priors.