Efficient interface for configuring an electronic market

• US 20020032638A1
• Filed: 03/30/2001
• Published: 03/14/2002
• Est. Priority Date: 03/31/2000
• Status: Abandoned Application

• Current Assignee: Thomson Reuters Incorporated (The Woodbridge Co. Ltd.)
• Original Assignee: Thomson Reuters Incorporated (The Woodbridge Co. Ltd.)
• Inventors: Lazear, Edward, Arora, Arti
• Application Number:
  US09/823,239
• Publication Number:
  US 20020032638A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0623 Item investigation
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

An administrator interface for defining or configuring a market via matching engine and corresponding market generation system. The interface includes a first set of instructions that allow an administrator to name and select a market of a certain market type. A second set of instructions allows the administrator to define or configure an attribute of an entity to be transacted in terms of one or more values associated with the attribute. Various possible market types include competitive market, exchange market, barter, reverse auction, consignment store, and trading post. The second set of instructions includes a mechanism for selectively associating an attribute of a product or service to be transacted via the market with a descriptor variable. Another mechanism facilitates configuring properties of the descriptor variable and associates the descriptor variable with one or more importance values. The administrator-specified importance values may be default importance values or seller importance values. Another mechanism lets an administrator define the descriptor variable as being discrete or continuous and enables the selection of an evaluation method for evaluating the descriptor variable during market operation.

Claims

1. An administrator interface for defining or configuring a market comprising:

a first set of instructions for allowing an administrator to name and select a market; and

a second set of instructions for allowing said administrator to configure a set of attributes in a transaction of the market.

2. The interface of claim 1 wherein said second set of instructions is configured according to said market type.

3. The interface of claim 2 wherein the market is one of a competitive market, an exchange market, a barter, a reverse auction, a consignment store, or a trading post.

4. The interface of claim 1 wherein said second set of instructions includes means for selectively associating an attribute of a product or service to be transacted via said market with a descriptor variable and means for configuring properties of said descriptor variable.

5. The interface of claim 4 wherein said means for configuring properties of said descriptor variable includes means for associating said descriptor variable with one or more importance values.

6. The interface of claim 5 further including means for adjusting a user interface of said market to enable a user to assign importance values to descriptor variables in accordance with an order by which said descriptor values are selected or entered by said user via said user interface.

7. The interface of claim 5 wherein said one or more importance values is a buyer importance value.

8. The interface of claim 5 wherein said one or more importance values is a seller importance value.

9. The interface of claim 4 wherein said means for configuring properties of said descriptor variable includes means for defining said descriptor variable as being discrete or continuous.

10. The interface of claim 4 wherein said second set of instructions further includes means for selecting an evaluation method for evaluating said descriptor variable during market operation.

11. The interface of claim 10 wherein said evaluation method includes a distance method, a more is better method, a less is better method, a strictly equal to method, a not equal to method, a less than or equal to method, and/or a greater than or equal to method.

12. The interface of claim 11 wherein said second set of instructions further includes means for selecting a type of input field associated with said descriptor variable for inclusion in a user interface associated with said market.

13. The interface of claim 12 wherein said type of input field is a text box or a drop-down menu or checkbox.

14. The interface of claim 13 wherein each menu item of said drop down menu or each input to said text box is associated with said descriptor variable, each menu item or input further associated with a descriptor value.

15. The interface of claim 14 wherein said descriptor value is associated with one or more importance values.

16. The interface of claim 15 wherein said one or more importance values includes seller and/or buyer importance values, which indicate an importance of said descriptor value associated with said descriptor variable associated with said attribute to said seller and/or buyer, respectively.

17. The interface of claim 16 in communication with a system for computing a total match score (Z_ij) based on said buyer and/or seller preferences and importance values according to the following equation:

18. The interface of claim 14 wherein said descriptor value is associated with a continuous descriptor variable.

19. The interface of claim 1 wherein said first set of instructions includes a set of system administrator interface input panels.

20. The interface of claim 19 wherein said system administrator interface input panels include one or more input fields for naming a market to be selected or created.

21. The interface of claim 20 wherein said system administrator interface input panels further include one or more input fields for associating said market to be created with a user group of market administrators.

22. The interface of claim 21 wherein said system administrator interface input panels further include one or more input fields for associating a market administrator with said user group.

23. The interface of claim 20 wherein said system administrator interface input panels further include input fields for copying or editing an existing market configuration.

24. The interface of claim 23 wherein said system administrator interface input panels further include input fields for specifying a server and a location of data associated with said market configuration.

25. The interface of claim 1 wherein said second set of instructions includes a set of market administrator interface input panels.

26. The interface of claim 25 wherein said second set of instructions includes an input field for defining said market in terms of market type.

27. The interface of claim 26 wherein said second set of instructions includes an input field for defining said market in terms of transaction type.

28. The interface of claim 27 wherein said second set of instructions includes input fields for defining said market according to whether or not said market will transact entities that are assigned to categories.

29. The interface of claim 28 wherein said second set of instructions includes input fields for defining said market according to whether or not said market will transact entities that are assigned descriptors.

30. The interface of claim 29 wherein said second set of instructions includes input fields for defining said market according to whether or not goods and/or services will be transacted via said market.

35. The method of claim 24 wherein said market generation engine includes an intelligence algorithm for recommending a market type via said market administrator interface based on remaining market behavior details and feedback from previous or current market implementations.

36. The method of claim 25 wherein said market generation engine further includes means for performing predictive market simulations according to said market behavior details.

38. The system of claim 27 wherein said third means includes a user interface and an administrator interface in communication with a weight-mapping function.

39. The system of claim 27 wherein said fourth means includes means for selecting a type of market for use with said e-commerce site.

40. The system of claim 29 wherein said type of market is an exchange, a competitive market, a modified competitive market, a consignment store, a qualified auction, an internal allocation, and/or a futures and credit market.

41. The system of claim 27 wherein said fourth means includes means for generating a database and an accompanying matching engine for searching said database in accordance with said attributes and weights of said products and/or services.

51. The system of claim 40 wherein said second set of values represent default values, which are associated with said attributes when said first set of values are not provided by said buyer.

52. The system of claim 41 wherein said system further includes a means for scoring each product or service in accordance with said first set of values, said second set of values, and said third set of values associated with said attributes of said product and/or service.

31. A method for configuring a market or internal allocation system comprising the steps of:

employing a system administrator interface to adjust a configurator environment to accept market configuration input from a market administrator that is associated with said market;

using a market administrator interface to configure said market via said configuration input by specifying market behavior details; and

automatically integrating market configuration details, including said market behavior details, into an operational market via a market generation engine, said market generation engine in communication with said system administrator interface and said market administrator interface.

32. The method of claim 31 wherein said market behavior details specified in said step of using include market type;

attributes of entities to be transacted via said market;

descriptor variables to be assigned to said attributes; and

importance values to be associated with said descriptor variables.

33. The method of claim 32 wherein said market behavior details further include matching criteria for matching two or more entities to be transacted via said market.

34. The method of claim 31 wherein said step of employing further includes generating market administrator accounts and market administrator user groups associated with one or more markets.

42. The system of claim 31 wherein said matching engine includes fifth means for receiving one or more inputs;

sixth means for weighting said one or more inputs and providing one or more weighted inputs in response thereto; and

seventh means for accessing data in accordance with said one or more weighted inputs.

43. The system of claim 32 wherein said matching engine is a matching engine for matching products or services to a user of said engine in accordance with said one or more inputs provided by said user and/or said administrator.

44. The system of claim 33 wherein said sixth means includes one or more interfaces for specifying a continuous or discrete descriptor variable.

45. The system of claim 34 wherein said one or more interfaces includes a user interface and an administrator interface, said administrator interface including means for allowing said administrator to adjust default weights associated with said products and/or services.

47. The system of claim 36 wherein said efficient matching engine includes means for searching a database of said products and/or services and returning one or more matched results based on said relative preferences and said first set of preferences.

48. The system of claim 37 wherein said one or more users include a buyer and a seller.

49. The system of claim 38 wherein said user interface includes means for allowing a buyer to assign a second set of values to said attributes.

50. The system of claim 39 wherein said user interface further includes means for permitting a seller to assign a third set of values to said attributes.

53. The system of claim 42 wherein said means for scoring includes a distance method.

37. A system for generating a matching-intensive website comprising:

first means for indicating products and/or services to be sold via said website;

second means for providing a list of attributes associated with said products and/or services;

third means for selectively associating weights with said attributes; and

fourth means for automatically generating an website in accordance with said products and/or services, said list of attributes, and said weights.

46. A system for configuring an efficient matching engine comprising:

an administrator interface for selecting a market type, transaction type, whether items and/or services are to be matched, types of attributes to be associated with said items and/or services, and a first set of weights to be associated with said attributes and

a user interface for allowing one or more users to specify and rank relative preferences of said attributes.

54. An administrator interface for creating a user interface to be used to transact electronic commerce over a network, the administrator interface comprising

instructions for allowing a human operator to define a market type and

instructions for allowing a human operator to define one or more attributes to be used in association with an item to be transacted via said market.