[1] In sponsored search n bidders compete for the assignment of k slots.
Overture adopted the GFP mechanism in 1997, and provided service to Yahoo!
Although very successful initially, bidders quickly learned how to manipulate the mechanism.
[1] These deficiencies lead to the replacement of the GFP mechanism in practice, and the adoption of alternate auction designs.
Recent work by Hoy et al.[3] and Dütting et al.[4] shows that the deficiencies of the GFP mechanism can be ascribed to its bidding interface, and that adopting a more expressive bidding interface guarantees the existence of an efficient Nash equilibrium under complete information as well as an efficient Bayes-Nash equilibrium under incomplete information.