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

US7813966B2 · 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 31, 2007
• Grant date: Oct 12, 2010
• Expiry date: Mar 10, 2028

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Controlling overtime in an auction is disclosed. A first time interval and a second time interval are defined. A first closing time for a first lot is also defined. A first bid is received for the first lot. A second bid is received for the first lot. A correlation between the second bid and the first bid is determined. The first closing time is extended using the second time interval if the correlation between the second bid and the first bid satisfies a trigger criterion. The trigger criterion is selected from a group consisting of a rank behind market and a quantity behind market.