Agents, system and method for dynamic pricing in a reputation-brokered, agent-mediated marketplace

• US 20020138402A1
• Filed: 09/06/2001
• Published: 09/26/2002
• Est. Priority Date: 09/06/2000
• Status: Abandoned Application

• Current Assignee: Openratings Incorporated
• Original Assignee: Openratings Incorporated
• Inventors: Evgeniou, Theodoros, Zacharia, Giorgos
• Application Number:
  US09/948,082
• Publication Number:
  US 20020138402A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

Agent-mediated commerce method and system, and agents for use therein. Seller agents may offer services at prices that vary over time, based on past experiences. Buyer agents may be configured by their users according to time and constraints, budget and the importance of a specific task. Buyer agents try, probabilistically, to maximize their owners'"'"' utilities (in part, by estimating the expected performance of each seller based on the reputation of that seller in the relevant marketplace. Buying agents may reveal only their time constraints and descriptions of the tasks (services) desired to the sellers. Seller agents bid for the offered tasks and base their bids at least partly on their owners'"'"' reputations, their time availability, the difficulty of the task and the current demand on the marketplace. Seller reputations are updated in a collaborative fashion based on seller performance. Seller agents employ dynamic pricing mechanisms, including specifically profit maximizing reputation followers.

Claims

1. A seller'"'"'s agent for use in an agent-mediated marketplace, the seller'"'"'s agent using a profit maximizing reputation follower strategy to set a bid price for responding to a buyer'"'"'s offer to purchase, and responsive to seller reputation information.

2. The seller'"'"'s agent of claim 1 wherein the reputation information provides reputation for all sellers bidding in response to the buyer'"'"'s offer.

3. The seller'"'"'s agent of claim 1 or claim 2 wherein, in response to wining a contract with a buyer'"'"' agent, the seller'"'"'s agent evaluates its resulting abilities and withdraws from bidding on any further buyers'"'"' offers it will not be able to satisfy as a result of the contractual demands on the seller until the contract has been completed and the seller'"'"'s associated resources are again available.

4. A method for a seller'"'"'s agent to formulate a bid price in response to a buyer'"'"'s offer to purchase via an agent-mediated marketplace, comprising:

examining the buyer'"'"'s offer;

receiving information about the seller'"'"'s reputation and the reputations of other sellers of services requested by the buyer; and

based on the buyer'"'"'s offer, the reputation information, and the seller'"'"'s history of success, formulating a bid price and conveying the bid price to the buyer.

5. A system for effecting electronic contracts between buyers and sellers, comprising:

a plurality of seller agents;

a plurality of buyer agents;

a marketplace server; and

a seller reputation data source;

the buyer agents placing on the marketplace server offers to purchase;

the seller agents evaluating the offers to purchase and selectively making a bid to meet an offer when a seller has the ability to do so, a price included in the bid being based at least in part on a seller reputation value obtained from the seller reputation data source.

6. The system of claim 5 wherein the buying agents evaluate bids from sellers at least in part in consideration of seller reputation values from the seller reputation data source, a seller'"'"'s price bid and an importance the buying attaches to the purchase.

7. The system of claim 5 or claim 6 wherein the selling agents use a reputation follower strategy to set a bid price.

8. The system of claim 7 wherein the reputation follower strategy is a profit maximizing reputation follower strategy.