Method and system for correcting market failures with participant isolation in dutch style online auctions
US7835957B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Jan 24, 2000 |
| Grant date | Nov 16, 2010 |
| Priority date | — |
| Expiry date | Jan 24, 2020 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system for conducting online auctions in a Dutch format is disclosed. Isolation of bidders in the online Dutch auction is exploited by creating unique views into the Dutch auction. In one embodiment, posted prices are originally defined in the context of the originator of the auction. These posted prices are transformed into the individual contexts of potential bidders prior to display at the bidder computer system. Multiple views into the Dutch auction are thereby supported. In another embodiment, feedback formats are specified for one or more of the potential bidders. The specified feedback formats enable the originator of the auction to control the types of market clearing information that will be withheld from the various potential bidders.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.