E-commerce platforms usually present an ordered list, mixed with several organic items and an advertisement, in response to each user's page view request. This list, the outcome of ad auction and allocation processes, directly impacts the platform's ad revenue and gross merchandise volume (GMV). Specifically, the ad auction determines which ad is displayed and the corresponding payment, while the ad allocation decides the display positions of the advertisement and organic items. The prevalent methods of segregating the ad auction and allocation into two distinct stages face two problems: 1) Ad auction does not consider externalities, such as the influence of actual display position and context on ad Click-Through Rate (CTR); 2) The ad allocation, which utilizes the auction-winning ad's payment to determine the display position dynamically, fails to maintain incentive compatibility (IC) for the advertisement. For instance, in the auction stage employing the traditional Generalized Second Price (GSP) , even if the winning ad increases its bid, its payment remains unchanged. This implies that the advertisement cannot secure a better position and thus loses the opportunity to achieve higher utility in the subsequent ad allocation stage. Previous research often focused on one of the two stages, neglecting the two-stage problem, which may result in suboptimal outcomes...

翻译：电子商务平台通常以有序列表形式响应用户的页面浏览请求，该列表由若干自然商品与一条广告混合构成，而此列表作为广告竞拍与分配流程的最终产出，直接影响平台广告收入与商品交易总额（GMV）。具体而言，广告竞拍环节决定展示的广告及对应支付价格，而广告分配环节则负责确定广告与自然商品的展示位置。当前将广告竞拍与分配分离为两个独立阶段的普遍做法面临两大问题：其一，广告竞拍未考虑外部性因素（如实际展示位置与上下文对广告点击率（CTR）的影响）；其二，采用竞拍胜出广告支付价格动态确定展示位置的分配机制，无法维护广告方的激励相容性（IC）。例如，在采用传统广义第二价格（GSP）的竞拍阶段中，即使胜出广告提高出价，其支付价格仍保持不变，这意味着该广告无法获取更优展示位置，进而在后续分配阶段丧失获得更高效用的机会。现有研究往往仅聚焦于两个阶段之一，忽略了这一两阶段联合优化问题，可能导致次优结果...