Practice, Theory and Experiments in Contextual Advertising: Specific Questions with Simple Solutions
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On February 25, 2014, ISET hosted Dr. Sergei Izmalkov of the Moscow New Economic School. Dr. Izmalkov, who works with the most popular Russian search engine, Yandex, presented a paper he coauthored with Dmitry Arkhanglesky, Dilyara Khakimova and Sergey Lyashenko, titled: “On evaluation of click through rates and conversion rates of different positions in sponsored search auctions”.
At the beginning of his presentation Dr. Izmalkov introduced the problem of advertisement allocation. Using the examples of the most popular search engines, he explained how advertisements are generally distributed and how the payment for those is defined. Payment is proportional to the number of clicks a link gets, through the search results that the advertisement will appear on is decided by auction.
Unequal Gains, Prolonged Pain: Dynamic Adjustment Costs and Protectionist Overshooting
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On February 21, 2014, ISET hosted Dr. Gerald Willmann of the University of Bielefeld. Dr. Willmann presented his paper, which he coauthored with Emily Blanchard, titled: “Unequal Gains, Prolonged Pain: Dynamic Adjustment Costs and Protectionist Overshooting”.
At the beginning of the presentation, Dr. Willmann explained his model from the field of political economy. The model, which concerns the political economy of trade protection, has two main features. First, there exists labor market friction that prevents people from shifting their human capital between sectors in accordance with changes in labor market conditions. Second, political decision-making is modeled as an endogenous process where decisions are made by a median voter.
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