Method and system for setting an optimal preference policy for an auction
US7403911B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jul 10, 2001 |
| Grant date | Jul 22, 2008 |
| Priority date | — |
| Expiry date | Dec 6, 2023 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
One embodiment of the present invention provides a method and system that determines the optimal preference policy for a market, such as an auction, with respect to a multiplicity of possible evaluation criteria that auction participants or other end users specify. In one embodiment, a method and system that configures the optimal preference policies that can be implemented in any market, particularly an auction, applicable to any auction format a market decision maker may wish to conduct. An embodiment of the present invention estimates bidders' private information and correspondingly identifies exploitable asymmetries to implement a preferential treatment policy. In one embodiment, this method is implemented on a computer system, under the control of software and firmware directing the operation of its processor and other components. In one embodiment, a computer readable medium causes a computer system to execute the method.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.