{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2022,4,4]],"date-time":"2022-04-04T01:23:14Z","timestamp":1649035394091},"reference-count":32,"publisher":"EDP Sciences","issue":"1","license":[{"start":{"date-parts":[[2021,3,12]],"date-time":"2021-03-12T00:00:00Z","timestamp":1615507200000},"content-version":"vor","delay-in-days":70,"URL":"https:\/\/www.edpsciences.org\/en\/authors\/copyright-and-licensing"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["RAIRO-Oper. Res."],"accepted":{"date-parts":[[2019,11,7]]},"published-print":{"date-parts":[[2021,1]]},"abstract":"<jats:p>Motivated by vigorous development of keyword auctions, this paper analyzes the reserve price policies in keyword auction with advertisers\u2019 endogenous investment and risk-averse search engine. We explore advertisers\u2019 optimal investment and equilibrium bidding strategies and derive the determination functions where utility-maximizing reserve price and efficient reserve price which maximizes the social welfare satisfy respectively. The results show that advertisers\u2019 equilibrium bidding is monotonously increasing in bidders\u2019 valuations, the number of advertisers, as well as the reserve price. Meanwhile, advertisers\u2019 optimal investment is negatively correlated with reserve price and the number of advertisers. By numerical examples, the utility-maximizing reserve price decreases with the risk aversion parameter and the number of advertisers. Search engine\u2019s expected utility increases with risk aversion parameter and decreases with the number of advertisers. Moreover, we declare that search engine can use reserve price as a regulatory tool to increase the utility. But there is an upper bound on search engine\u2019s utility. It is interesting to find the efficient reserve price equals to zero. Hence there is a trade-off between total efficiency and search engine\u2019s utility by search engine that has incentive to withhold reserve price that would benefit social welfare.<\/jats:p>","DOI":"10.1051\/ro\/2019103","type":"journal-article","created":{"date-parts":[[2019,11,14]],"date-time":"2019-11-14T09:07:26Z","timestamp":1573722446000},"page":"231-245","source":"Crossref","is-referenced-by-count":0,"title":["Reserve price of risk-averse search engine in keyword auctions with advertisers\u2019 endogenous investment"],"prefix":"10.1051","volume":"55","author":[{"given":"Qin","family":"Yang","sequence":"first","affiliation":[]},{"given":"Xianpei","family":"Hong","sequence":"additional","affiliation":[]},{"given":"Zongjun","family":"Wang","sequence":"additional","affiliation":[]},{"given":"Huaige","family":"Zhang","sequence":"additional","affiliation":[]}],"member":"250","published-online":{"date-parts":[[2021,3,12]]},"reference":[{"key":"R1","doi-asserted-by":"crossref","first-page":"538","DOI":"10.1287\/isre.2016.0637","volume":"27","author":"Agarwal","year":"2016","journal-title":"Inf. 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