{"version":"1.0","provider_name":"Microsoft Research","provider_url":"https:\/\/www.microsoft.com\/en-us\/research","author_name":"Peter Key","author_url":"https:\/\/www.microsoft.com\/en-us\/research\/people\/peterkey\/","title":"Budget Optimization for Sponsored Search:Censored Learning in MDPs - Microsoft Research","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"s3T9XAXv7Z\"><a href=\"https:\/\/www.microsoft.com\/en-us\/research\/publication\/budget-optimization-for-sponsored-searchcensored-learning-in-mdps\/\">Budget Optimization for Sponsored Search:Censored Learning in MDPs<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.microsoft.com\/en-us\/research\/publication\/budget-optimization-for-sponsored-searchcensored-learning-in-mdps\/embed\/#?secret=s3T9XAXv7Z\" width=\"600\" height=\"338\" title=\"&#8220;Budget Optimization for Sponsored Search:Censored Learning in MDPs&#8221; &#8212; Microsoft Research\" data-secret=\"s3T9XAXv7Z\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/* ]]> *\/\n<\/script>\n","description":"We consider the budget optimization problem faced by an advertiser participating in repeated sponsored search auctions, seeking to maximize the number of clicks attained under that budget. We cast the budget optimization problem as a Markov Decision Process (MDP) with censored observations, and propose a learning algorithm based on the well-known Kaplan-Meier or product-limit estimator. [&hellip;]"}