This is an auction process in which advertisers bid for an advertising space. First, the provider specifies the minimum price (floor price) at which he would like to offer the advertising space, and then the advertisers specify the maximum bid they would like to submit for the placement. The available advertising space is released to the highest bidder in real time. Two auction types of RTB (Real-Time Bidding) are First-Price and Second-Price Auctions. First-Price Auction means that the winner of the auction must pay his highest bid. However, in the Second-Price Auction, the highest bidder only has to pay the price of the second-highest bid.
