Method and system for dynamically controlling overtime in electronic auctions
US7152043B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Apr 11, 2001 |
| Grant date | Dec 19, 2006 |
| Priority date | — |
| Expiry date | Jan 4, 2023 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system for conducting electronic auctions is described. A dynamic lot closing extension feature avoids collisions in closing times of multiple lots by dynamically extending the closing time of a subsequent lot if a preceding lot's closing time is extended to be too close to the subsequent lot's then-currently scheduled closing time. In one embodiment, scheduled closing times can be extended with a flexible overtime feature, in which the properties of the event triggering the extension and the duration of the overtime period(s) can be tailored to a particular auction, particular lots of products within an auction, and to the particular time within an auction process.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.