Method and system for controlling the initiation and duration of overtime interval in electronic auctions

US7792707B2 · kind B2 · utility

Assignee

• ARIBA, INC. · US

Inventors

• Marc Alaia · Glenshaw, US
• David J. Becker · Dorpsstraat, US
• Anthony F. Bernard · Wexford, US
• Daniel C. Heckmann · Pittsburgh, US
• Sam E. Kinney, Jr. · Dorpsstraat, US
• Glen T. Meakem · Dorpsstraat, US
• Vincent F. Rago · Pittsburgh, US
• Jason Reneau · Boston, US
• Frederick W. Roberts · Pittsburgh, US
• William D. Rupp · Mount Lebanon, US
• Robert G. Stevens · Tokyo, JP

Key dates

• Filing date: Oct 11, 2007
• Grant date: Sep 7, 2010
• Expiry date: Jan 28, 2028

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Control of overtime in an auction is disclosed. A first time interval, a second time interval, and a first closing time for a first lot are defined. It is determined that at least one new bid for the first lot is received during the first time interval. The new bid is received close to the first closing time. The first closing time is extended using the second time interval if the correlation between the new bid and the at least one other bid satisfies a trigger criterion that is based on a rank of the new bid and the at least one other bid.