## Media Outlet Auction System Guide (Advertising Bidding Method Based)

Here is a clean and structured English translation of the system guide, focusing on clarity and conciseness.

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### 1. System Overview and Core Principles

This platform is an innovative system that applies the **advertising bidding method** to the auction of media management rights.

| Core Principle | Description |
| :--- | :--- |
| **Vickrey Auction** | The winner is the bidder with the **highest total score**. |
| **Second-Price Payment** | The winner actually pays the price of the **second-place bid**. (Prevents excessive bidding) |
| **Hybrid Scoring** | The final ranking score is calculated by combining **Bid Amount $\times$ Quality Score**. |
| **Quality-Centered** | Evaluation prioritizes content quality, preventing simple price competition. |

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### 2. Core Mechanism and Ranking Calculation

#### Final Ranking Score Formula

$$\text{Ranking Score} = \text{Bid Amount} \times \left( \frac{\text{Quality Score}}{100} \right)$$

#### Bidding Terms

| Category | Details |
| :--- | :--- |
| **Bid Amount** | Minimum $\$100$ to Maximum $\$100,000$. Must be higher than the current top bid. |
| **Management Period** | Default 30 days |
| **Win & Payment** | The 1st place score wins but pays the **bid amount of the 2nd place score**. |

#### Quality Score (1-100 points)

| Score Range | Level | Key Evaluation Criteria | Quality Benefit |
| :--- | :--- | :--- | :--- |
| **71-100 pts** | **High Quality** | Excellent editorial standards, high user engagement, innovative content | Rank improvement, high rank with lower bids, increased exposure and engagement. |
| **41-70 pts** | **Average Quality** | Meets standard criteria, stable content quality | |
| **1-40 pts** | **Low Quality** | Below basic standards, low engagement, lack of consistency | |

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### 3. Auction Target Types

Management rights for a total of **71** media outlets are up for auction.

| Type | Count | Description | Minimum Bid |
| :--- | :--- | :--- | :--- |
| **People** | 24 | Personal branding, statements, profile editing rights for key figures. | $\$500$ |
| **Topics** | 20 | Trend analysis, content curation for core topics, prediction market integration. | $\$300$ |
| **Companies** | 27 | Corporate news, financial updates, corporate reputation management. | $\$1,000$ |

\* The winner acquires **Exclusive Editorial Rights** to prioritize content decisions.

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### 4. Strategic Bidding Guide

#### 💡 Effective Bidding Tips

1.  **Prioritize Quality Score:** Improving the quality score offers a higher Return on Investment (ROI) than increasing the bid amount alone.
2.  **Analyze Competition:** Study past auction results and competitor bidding patterns in similar categories.
3.  **Gradual Bidding:** Increase bids step-by-step rather than making large jumps close to the deadline.
4.  **Consider Timing:** Competition often intensifies near the auction closing time.

#### ⚠️ Mistakes to Avoid

* **Ignoring Quality Score:** You cannot win with bid amount alone.
* **Excessive Competition:** Emotional bidding can lead to losses.
* **Short-term Thinking:** Don't neglect profitability relative to the management period.

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### 5. Technical Implementation (System Features)

* **Real-time Processing:** Utilizes PostgreSQL for transaction management, ensuring concurrency control and real-time ranking updates.
* **Security:** Features user authentication, bid data encryption, and a robust fraud prevention system.
* **Data Analysis:** Machine Learning (ML) is used for **optimal bid suggestions**, and post-acquisition **ROI analysis** measures performance.