Method and system for implementing attribute-based bidding and bid comparison in an electronic exchange
US7401034B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 27, 2002 |
| Grant date | Jul 15, 2008 |
| Priority date | — |
| Expiry date | Feb 28, 2024 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An auction method for implementing attribute-based bidding and bid comparison in an electronic exchange. A specification defining an auction for an item is received, wherein the specification comprises a plurality of attributes of the item. An attribute defines the functionality of an aspect of the item with respect to the current auction. At least one attribute comprises a value and a score associated with the value and a portion of the plurality of attributes comprise a relative weight. The auction is then published to at least one bidder. A bid is received from a bidder, wherein the bid comprises a value associated with at least one attribute. A composite score for the bid is calculated based on the bid and the specification. A plurality of bids are then ranked based on the composite score for each bid. An evaluation score is calculated for each bid based on the bid price and composite score. A plurality of bids are then ranked based on the evaluation score for each bid.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.