Automated bidding system for use with online auctions
US7672894B2 · kind B2 · utility
8Cited by
7References
24Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | Jul 22, 2002 |
| Grant date | Mar 2, 2010 |
| Priority date | — |
| Expiry date | Jul 24, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A computer implemented bidding method for use in bidding on auction items that allows for a desired optimization of bid amounts. The method includes selecting a set of one or more biddable items offered at auction wherein for a biddable item the auction offers a ranking for one or more received bids according to bid amounts, determining the current bids for a set of the biddable items, determining a bid amount for a selected biddable item based on a given utility function to determine a set of rankings for achieving a desired optimized outcome from the bidding, and submitting a set of bid amounts.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.