Real Time Bid Optimization with Smooth Budget Delivery in Online Advertising Kuang-Chih Lee klee@turn.com Turn Inc Ali Jalali ajalali@turn.com Turn Inc Ali Dasdan adasdan@turn.com Turn Inc May 15, 2013 Abstract Today, billions of display ad impressions are purchased on a daily basis through a public auction hosted by real time bidding (RTB) exchanges. A decision has to be made for advertisers to