System and method of determining a retail commodity price within a geographic boundary
US8538795B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 12, 2008 |
| Grant date | Sep 17, 2013 |
| Priority date | — |
| Expiry date | Dec 4, 2029 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Disclosed are a method and system for determining a retail price for a commodity within a geographic boundary. Retail prices for the commodity may be obtained from various sources, such as observers, third-party reporting, transactional data, and self-reporting. The retail price for each source may be analyzed to determine a risk factor. The retail prices from all sources associated with a location may be compared to determine a composite retail price for the location. The retail prices for all the locations within the geographic boundary may be analyzed to generate an aggregate composite price for the commodity within the geographic boundary. The analysis may include using a weighted formula. The analysis may include a volume proxy.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.