Pricing Ad Quality Uncertainty Into A Competitive Bidding Advantage
Programmatic on the open web is too big and too important for participants to accept 'lemon market' outcomes. When marketers play the programmatic auction game, probability says they overpay for the ad quality they get in return.
Instead, we think about programmatic the same way a hedge fund would, giving our clients the bidding advantage.
Research Paper, May 2020
Harvard Business Review
by Francesca Gino