<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"><channel><title>Halfpenny Media — the blog</title><description>Pieces on paid advertising: the auction, wasted spend and creative testing, with sources and workings.</description><link>https://halfpennymedia.com/</link><language>en-us</language><item><title>I simulated the auction. Winning by bid costs 80% more than winning by quality.</title><link>https://halfpennymedia.com/blog/auction-bid-versus-quality/</link><guid isPermaLink="true">https://halfpennymedia.com/blog/auction-bid-versus-quality/</guid><description>Somebody asked why their cost per click kept climbing when they had not touched a bid in a year. I did not have an answer, so I simulated the auction.</description><pubDate>Sun, 16 Aug 2026 00:00:00 GMT</pubDate><category>Auction mechanics</category><author>Dana Whitlock</author></item></channel></rss>