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Advertising is a crucial revenue source for e-commerce platforms and a vital online marketing tool for their sellers. In this paper, we explore dynamic ad allocation with limited slots upon each customer arrival for an e-commerce platform, where customers follow a choice model when clicking the ads. Motivated by the recent advocacy for the algorithmic fairness of online ad delivery, we adjust the value from advertising by a general fairness metric evaluated with the click-throughs of different ads and customer types. The original online ad-allocation problem is intractable, so we propose a novel stochastic program framework (called two-stage target-debt, TTD) that first decides the click-through targets then devises an ad-allocation policy to satisfy these targets in the second stage. We design a debt-weighted offer-set (DWO) algorithm and demonstrate that, as long as the problem size scales to infinity, this algorithm is (asymptotically) optimal under the optimal first-stage click-through target. Compared to the Fluid heuristic and its re-solving variants, our approach has better scalability and can deplete the ad budgets more smoothly throughout the horizon, which is highly desirable for the online advertising business in practice.

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