Enhanced auction mechanism for online transactions

• US 20060047581A1
• Filed: 10/26/2005
• Published: 03/02/2006
• Est. Priority Date: 08/18/2000
• Status: Abandoned Application

• Current Assignee: LSF Network
• Original Assignee: LSF Network
• Inventors: Shoham, Yoav, Tennenholtz, Moshe, La Mura, Pierfrancesco
• Application Number:
  US11/260,001
• Publication Number:
  US 20060047581A1
• Time in Patent Office: Days
• US Class Current: 705/26
• 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 auction system and method for suitable for use with online transactions which provide a plurality of enhanced auctions is disclosed. The present invention extends, augments or otherwise enhances various auction elements including, for example, the selection of participants, the grouping of participants, the moves made by participants, the bidding process of participants, the information revelation process, the auction closing process, and the auction clearing process, among others. In addition, enhanced auction modules may be used separately or together during the auction process.

Claims

1. In a computer device, an online auction system having at least one seller member (seller) and at least one buyer member (bidder), said auction system comprising:

a) an interface module configured to provide a user interface between the seller and the bidder;

b) a transaction module operatively coupled for communication to said interface module configured to manage transactions associated with moves made by the seller and the bidder in conjunction with a sale of an item by the seller; and

c) a mechanism module operatively coupled for communication to said transaction module, said mechanism module defining a plurality of distinct auction rules, said transaction module further configured to carry out transactions according to at least one auction rule defined by said mechanism module.

2. The auction system of claim 1, wherein said mechanism module comprises rule defining programming associated with temporal auction transactions, wherein said rule defining programming is configured to:

receive a bid from a bidder for an item for sale;

receive in conjunction with said bid an expiration condition for said bid; and

cancel said bid when said expiration condition is met.

3. The auction system of claim 2, wherein said rule defining programming is further configured to allow the seller to close the auction at any time.

4. The auction system of claim 1, wherein said mechanism module comprises rule defining programming associated with temporal negotiation transactions, wherein said rule defining programming is configured to:

receive a bid offer from a bidder for an item for sale;

receive in conjunction with said bid offer a bid expiration condition for said bid offer;

cancel said bid offer when said bid expiration condition is met;

receive a sale offer from a seller for an item for sale;

receive in conjunction with said sale offer a sale expiration condition for said sale offer; and

cancel said sale offer when said sale expiration condition is met.

5. The auction system of claim 4, wherein said rule defining programming is further configured to allow the seller to close the auction at any time.

6. The auction system of claim 4, wherein said rule defining programming is further configured to allow the buyer to close the auction at any time.

7. The auction system of claim 1, wherein said mechanism module comprises rule defining programming associated with aggregated combinatorial auction transactions, said rule defining programming configured to:

receive at least one item for sale from each of a plurality of sellers;

aggregate each said item for sale into a unified combinatorial auction;

offer for sale items in said unified combinatorial auction;

receive a bid for an item in said unified combinatorial auction from a bidder;

receive in conjunction with said bid, a substitute command indicating that said bid is a substitute for another bid, said substitute command further indicating the number of units requested by said bidder;

allocate items to highest bidders at the close of auction; and

limit said allocation of items to said bidder according to the number of units requested by said bidder.

8. The auction system of claim 1, wherein said mechanism module comprises rule defining programming associated with bundle-based auction transactions, said rule defining programming configured to:

receive from a seller a plurality of goods for sale, said plurality of goods defining a bundle;

receive from the seller a shared reserve price for the bundle;

open sale of the plurality of goods;

receive bids for said plurality of goods from bidders; and

close sale of the plurality of goods when the total bid amounts for the plurality of goods satisfies the shared reserve price.

9. The auction system of claim 1, wherein said mechanism module comprises rule defining programming associated with reverse payment auction transactions, said rule defining programming configured to:

receive a plurality of identical goods for sale;

receive bids for said goods from a plurality of bidders; and

provide a rebate to the highest bidder.

10. The auction system of claim 1, wherein said mechanism module comprises rule defining programming associated with conditional auction transactions, said rule defining programming configured to:

receive at least one item for sale by a seller;

receive from a bidder at least one bid for the item;

receive a condition event attached to the sale of said item;

determine if said condition event has occurred; and

allocate terms of sale according to the occurrence of said condition event.

11. The auction system of claim 1, wherein said mechanism module comprises rule defining programming associated with auction with price-warranty transactions, said rule defining programming configured to:

receive at least one item for sale by a seller;

receive a price warranty associated with the sale of said item, said price warranty indicating the warranty terms; and

list the item for sale including the price warranty terms.

12. A networked auction system for operating on-line auctions for sale of goods or services, comprising:

an auction modeler for specifying a plurality of distinct auction models for sale of at least one good or service, wherein an auction model includes at least one guideline for dynamic evolution of an auction;

an auction manager coupled with said auction modeler for managing operation of at least one selected auction model from among the plurality of distinct auction models, said auction manager processing input from at least one auction participant and dynamically generating output compliant with the at least one guideline for the at least one selected auction model; and

a user interface coupled with said auction manager for receiving dynamic input from at least one auction participant and passing an indication of the dynamic input to said auction manager, and for receiving the dynamically generated output from said auction manager and passing a representation of the output to at least one auction participant.

13. The networked auction system of claim 12 wherein auction participants include at least one seller and at least one bidder.

14. The networked auction system of claim 12 wherein auction participants include one seller and at least one bidder.

15. The networked auction system of claim 12 wherein auction participants include one bidder and at least one seller.

16. The networked auction system of claim 12 wherein guidelines for dynamic evolution of an auction include guidelines for selection of auction participants.

17. The networked auction system of claim 12 wherein guidelines for dynamic evolution of an auction include guidelines for disclosure of information to auction participants.

18. The networked auction system of claim 12 wherein guidelines for dynamic evolution of an auction include guidelines for valid inputs from auction participants.

19. The networked auction system of claim 12 wherein guidelines for dynamic evolution of an auction include guidelines for closing the auction.

20. The networked auction system of claim 12 wherein guidelines for dynamic evolution of an auction include guidelines for determining at least one winner for the auction.

21. The networked auction system of claim 20 wherein guidelines for dynamic evolution of an auction include guidelines for determining terms of purchase for the at least one winner of the auction.

23. The networked auction system of claim 12 wherein the dynamic input from at least one auction participant includes a bid amount for purchase of at least one good or service.

24. The networked auction system of claim 23 wherein the dynamic input from at least one auction participant further includes at least one condition associated with the bid amount for purchase of at least one good or service.

25. The networked auction system of claim 24 wherein the at least one condition associated with the bid amount for purchase of at least one good or service includes a time of expiration for the bid amount.

26. The networked auction system of claim 12 wherein the dynamic input from at least one auction participant includes a bid amount for sale of at least one good or service.

27. The networked auction system of claim 26 wherein the dynamic input from at least one auction participant further includes at least one condition associated with the bid amount for sale of at least one good or service.

28. The networked auction system of claim 27 wherein the at least one condition associated with the bid amount for sale of at least one good or service includes a time of expiration for the bid amount.

29. A method for operating on-line auctions for sale of goods or services, comprising:

specifying a plurality of distinct auction models for sale of goods or services, wherein an auction model includes at least one guideline for dynamic evolution of an auction;

managing operation of at least one selected auction model from among the plurality of distinct auction models, comprising processing input from at least one auction participant and dynamically generating output compliant with the at least one guideline for the at least one selected auction model;

receiving dynamic input from at least one auction participant; and

passing a representation of the dynamically generated output to at least one auction participant.

22. The networked auction system of claim 30 wherein guidelines for dynamic evolution of an auction include guidelines for determining terms of sale for the at least one winner of the auction.

30. The method of claim 29 wherein auction participants include at least one seller and at least one bidder.

31. The method of claim 29 wherein auction participants include one seller and at least one bidder.

32. The method of claim 29 wherein auction participants include one bidder and at least one seller.

33. The method of claim 29 wherein guidelines for dynamic evolution of an auction include guidelines for selection of auction participants.

34. The method of claim 29 wherein guidelines for dynamic evolution of an auction include guidelines for disclosure of information to auction participants.

35. The method of claim 29 wherein guidelines for dynamic evolution of an auction include guidelines for valid inputs from auction participants.

36. The method of claim 29 wherein guidelines for dynamic evolution of an auction include guidelines for closing the auction.

37. The method of claim 29 wherein guidelines for dynamic evolution of an auction include guidelines for determining at least one winner for the auction.

38. The method of claim 37 wherein guidelines for dynamic evolution of an auction further include guidelines for determining terms of purchase for the at least one winner of the auction.

39. The method of claim 37 wherein guidelines for dynamic evolution of an auction further include guidelines for determining terms of sale for the at least one winner of the auction.

40. The method of claim 29 wherein the dynamic input from at least one auction participant includes a bid amount for purchase of at least one good or service.

41. The method of claim 40 wherein the dynamic input from at least one auction participant further includes at least one condition associated with the bid amount for purchase of at least one good or service.

42. The method of claim 41 wherein the at least one condition associated with the bid amount for purchase of at least one good or service includes a time of expiration for the bid amount.

43. The method of claim 29 wherein the dynamic input from at least one auction participant includes a bid amount for sale of at least one good or service.

44. The method of claim 43 wherein the dynamic input from at least one auction participant further includes at least one condition associated with the bid amount for sale of at least one good or service.

45. The method of claim 44 wherein the at least one condition associated with the bid amount for sale of at least one good or service includes a time of expiration for the bid amount.

46. A computer-readable storage medium storing program code for causing a computer to perform the steps of:

specifying a plurality of distinct auction models for sale of goods or services, wherein an auction model includes at least one guideline for dynamic evolution of an auction;

managing operation of at least one selected auction model from among the plurality of distinct auction models, comprising processing input from at least one auction participant and dynamically generating output compliant with the at least one guideline for the at least one selected auction model;

receiving dynamic input from at least one auction participant; and

passing a representation of the dynamically generated output to at least one auction participant.