Seller automated engine architecture and methodology for optimized pricing strategies in automated real-time iterative reverse auctions over the internet and the like for the purchase and sale of goods and services

US7895116B2 · kind B2 · utility

Inventors

• Mukesh Chatter · Concord, US
• Rohit Goyal · San Francisco, US
• Shiao-bin Soong · Littleton, US

Key dates

• Filing date: Jul 25, 2007
• Grant date: Feb 22, 2011
• Expiry date: May 20, 2029

Classification

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

Abstract

An improved seller automated engine architecture methodology particularly (though not exclusively) for use in automated real-time iterative reverse auctions over the Internet and the like for the purchase and sale of goods and services, providing a choice of architectural implementations while enabling price optimization on market share-directed considerations, specific sales target-directed implementations, seller utility derivative-following implementations, model optimizer implementations and explorations, mathematical optimization-oriented and rules-based implementations.