Normalized synthetic continuous double auctions
First Claim
1. A method, comprising participating in a normalized auction having contingent bidding on a plurality of heterogeneous item auctions, wherein contingent bidding includes price normalization as a function of at least one attribute, wherein a composite reverse auction, defined by a bid set including a first contingent bid on a first of the plurality of heterogeneous item auctions and a second contingent bid on a second of the plurality of heterogeneous item auctions, is ended when i) the first contingent bid from the bid set is recognized as a winning bid and substantially simultaneously ii) the second contingent bid from the bid set is withdrawn as a remaining bid.
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Accused Products
Abstract
Methods, systems and data structures are described for conducting normalized synthetic continuous double auctions. A method includes participating in a normalized auction having contingent bidding on a plurality of heterogeneous item auctions. Contingent bidding includes price normalization as a function of at least one attribute. A composite reverse auction, defined by a bid set including a first contingent bid on a first of the plurality of heterogeneous item auctions and a second contingent bid on a second of the plurality of heterogeneous item auctions, is ended when i) the first contingent bid from the bid set is recognized as a winning bid and substantially simultaneously ii) the second contingent bid from the bid set is withdrawn as a remaining bid.
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Citations
19 Claims
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1. A method, comprising participating in a normalized auction having contingent bidding on a plurality of heterogeneous item auctions,
wherein contingent bidding includes price normalization as a function of at least one attribute, wherein a composite reverse auction, defined by a bid set including a first contingent bid on a first of the plurality of heterogeneous item auctions and a second contingent bid on a second of the plurality of heterogeneous item auctions, is ended when i) the first contingent bid from the bid set is recognized as a winning bid and substantially simultaneously ii) the second contingent bid from the bid set is withdrawn as a remaining bid.
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15. An electronic medium, comprising computer or machine readable program elements translatable for implementing a method including:
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participating in a normalized auction having contingent bidding on a plurality of heterogeneous item auctions, wherein contingent bidding includes price normalization as a function of at least one attribute, and wherein a composite reverse auction, defined by a bid set including a first contingent bid on a first of the plurality of heterogeneous item auctions and a second contingent bid on a second of the plurality of heterogeneous item auctions, is ended when i) the first contingent bid from the bid set is recognized as a winning bid and substantially simultaneously ii) the second contingent bid from the bid set is withdrawn as a remaining bid.
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16. An apparatus, comprising a computer network including at least one auction server, at least one seller client and at least one buyer client,
wherein the at least one auction server, the at least one seller client and the at least one buyer client are participating in a normalized auction having contingent bidding on a plurality of heterogeneous item auctions, wherein contingent bidding includes price normalization as a function of at least one attribute, and wherein a composite reverse auction, defined by a bid set including a first contingent bid on a first of the plurality of heterogeneous item auctions and a second contingent bid on a second of the plurality of heterogeneous item auctions, is ended when i) the first contingent bid from the bid set is recognized as a winning bid and substantially simultaneously ii) the second contingent bid from the bid set is withdrawn as a remaining bid.
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17. A data structure, comprising a bid set that defines at least in-part a normalized auction, the bid set including a first contingent bid on a first of the plurality of heterogeneous item auctions and a second contingent bid on a second of the plurality of heterogeneous item auctions,
wherein the bid set includes price normalization as a function of at least one attribute, and wherein the normalized auction is ended when i) the first contingent bid from the bid set is recognized as a winning bid and substantially simultaneously ii) the second contingent bid from the bid set is withdrawn as a remaining bid.
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18. Signal transmission or receiving apparatus embodying a computer program product comprising computer program means adapted to perform the steps of participating in a normalized auction when the program is run on a computer,
characterized in that participating in a continuous double auction includes participating in a normalized auction having contingent bidding on a plurality of heterogeneous item auctions, wherein contingent bidding includes price normalization as a function of at least one attribute, wherein a composite reverse auction, defined by a bid set including a first contingent bid on a first of the plurality of heterogeneous item auctions and a second contingent bid on a second of the plurality of heterogeneous item auctions, is ended when i) the first contingent bid from the bid set is recognized as a winning bid and substantially simultaneously ii) the second contingent bid from the bid set is withdrawn as a remaining bid.
Specification