University of Cambridge > Talks.cam > Economics & Policy Seminars, CJBS > FROM MAD MEN TO MATHS MEN: CONCENTRATION AND BUYER POWER IN ONLINE ADVERTISING

FROM MAD MEN TO MATHS MEN: CONCENTRATION AND BUYER POWER IN ONLINE ADVERTISING

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Ahead of the seminar a light lunch will be available in the Common Room from 12:30

This paper analyses the impact of intermediaries’ concentration on the allocation of revenues in online platforms. We study sponsored search, the sale of ad space on search engines through online auctions, documenting how advertisers increasingly bid through a handful of specialised intermediaries. This enhances automated bidding and data pooling but lessens competition whenever the intermediary represents competing advertisers. Using data on nearly 40 million Google’s keyword auctions, we first apply machine learning algorithms to cluster keywords into thematic groups serving as relevant markets. Then, through an instrumental variable strategy, we quantify a negative and sizeable impact of intermediaries’ concentration on platform’s revenues.

This talk is part of the Economics & Policy Seminars, CJBS series.

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