Transparent Marketplaces: It's All About The School Lunch
Transcript of Transparent Marketplaces: It's All About The School Lunch
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Transparent Marketplaces: It’s All About the School LunchGabriel Weintraub, Chief Economist, AppNexus
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School Lunches in Chile in the 1990s
Source: Photo, “Combinatorial Auctions”, Analytics Magazine, Fall 2009
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CHILE 1973 1989 1999-2001
Military coup: beginning of dictatorship
Transition to democracy
Huge public spending & free market economy
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The ChallengeFeeding >2M Children Daily
Thousandsof schools
Tens of vendors & companies
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The IssuesNo standardization of menus & quality Lack of price
competition
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• Standardized meals & quality • Created price competition• Auction logic
Solution: Transparent Competitive Bid Auction
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SAVED 20-25%ALLOWING
TO FEED TH E G O V E R N M E N T
300,000+DAILY
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Transparency& Science
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WHYdid I become interested in this market?
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Using cutting edge economic science to address…
TRANSPARENCY + REVENUES
SENSIBLE AUCTION LOGIC
FOR HEADER BIDDING
OVERARCHING MARKET
DYNAMICS
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Thank you!