Systems and methods for optimal bidding in a business to business environment
US10417699B2 · kind B2 · utility
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7Claims
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Key dates
| Filing date | Sep 1, 2016 |
| Grant date | Sep 17, 2019 |
| Priority date | — |
| Expiry date | Apr 6, 2037 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0283
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention relates to systems and methods for optimizing bidding in a business-to-business environment. Initially the observed outcomes for n deals are received, and the belief parameters for these n deals are calculated. The Bayes-greedy price is then calculated and presented to a buyer. The buyer's response is collected and an optimal variance parameter based on the buyer's response is generated. The belief parameters for these n+1 deals are also updated. This process may be repeated for additional deals.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.