System and method for conducting combinatorial exchanges

US7627510B2 · kind B2 · utility

Assignee

• The Regents of the University of California · US

Inventors

• Rahul Jain · Sawai Madhopur, IN
• Charis Kaskiris · Berkeley, US
• Pravin Varaiya · Berkeley, US
• Jun Shu · Nanhu, CN
• Ram Rajagopal · Austin, US
• Nisha Pillai · San Francisco, US

Key dates

• Filing date: Mar 23, 2006
• Grant date: Dec 1, 2009
• Expiry date: Jan 8, 2027

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/06
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A double-sided exchange may be an exchange wherein both buyers and sellers provide bids for matching via the exchange. A first interface receives buy bids from buyers and a second interface receives sell bids from sellers. A controller matches the sell bids with the buy bids, yielding matched buy bids and matched sell bids in response thereto so that allocations of the matched buy bids and the matched sell bids maximize a surplus of the exchange. An allocation that substantially maximizes an auctioneer's profit and/or announces payments based on sell bids is provided. The announced allocations and prices can be shown to be a substantially competitive equilibrium in some applications.