METHOD, SYSTEM AND COMPUTER PROGRAM PRODUCT FOR FACILITATING AN AUCTION BEHAVIOR AND AUTOMATIC BIDDING IN AN AUCTION

• US 20060218077A1
• Filed: 06/13/2006
• Published: 09/28/2006
• Est. Priority Date: 09/02/1999
• Status: Abandoned Application

• Current Assignee: Daniel E. Tedesco, James Jorasch, Jay S. Walker, Kathleen Van Luchene, Ware Adam
• Original Assignee: Daniel E. Tedesco, James Jorasch, Jay S. Walker, Kathleen Van Luchene, Ware Adam
• Inventors: Jorasch, James A., Tedesco, Daniel E., Van Luchene, Kathleen, Ware, Adam, Walker, Jay S.
• Application Number:
  US11/423,834
• Publication Number:
  US 20060218077A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

One or more proxy bidders is associated with a rule which determines a time to place a bid. The proxy bidder places a bid at the determined time, instead of immediately after the bidder'"'"'s prior bid is exceeded. Such rules may be selected for all proxy bidders to encourage a desired auction behavior. By controlling the placement of bids based on rules associated with the desired auction behavior, bids may be placed in a manner that seems natural and competitive to bidders in the auction when, in fact, they are placed in accordance with the selected rules. The desired auction behavior may be selected statically for an auction or dynamically during the auction. Historical auction data maybe analyzed to characterize the behavior of an auction, such as the average period of time between bids and the average increment between bids. Rules may be generated to correspond to a behavior so as to provide the same average time and increment between bids.

Claims

1-58. -58. (canceled)

59. A method, comprising:

monitoring an auction for at least one condition specified by a bidder; and

automatically placing a bid for the bidder if the at least one condition occurs, the bid having a bid price that is higher than the current high bid by a predetermined amount.

60. The method of claim 59, wherein the at least one condition comprises at least one of an amount of time remaining in the auction and a predetermined time before the end of the auction.

61. The method of claim 59, further comprising automatically placing a bid for the bidder at least one of:

periodically at a predetermined time after a previous bid;

periodically at a predetermined time after the auction has begun;

according to a frequency of a predetermined number of previous bids;

after waiting a random amount of time after a previous bid is placed;

according to a bid price achieved by the last bid;

more or less quickly if the auction is extended; and

after a minimum number of bids is placed.

62. The method of claim 59, which further comprises automatically placing the bid according to at least one bidding behavior.

63. The method of claim 62, wherein the at least one bidding behavior comprises at least one of a maximum bid amount and a minimum bid increment.

64. A computer readable medium storing instructions configured to direct a processor to:

monitor an auction for at least one condition specified by a bidder; and

automatically place a bid for the bidder if the at least one condition occurs, the bid having a bid price that is higher than the current high bid by a predetermined amount.

65. The computer readable medium of claim 64, which further comprises instructions configured to direct a processor to monitor the auction for the occurrence of the at least one condition which comprises at least one of an amount of time remaining in the auction and a predetermined time before the end of the auction.

66. The computer readable medium of claim 64, which further comprises instructions configured to direct a processor to automatically place a bid for the bidder at least one of:

periodically at a predetermined time after a previous bid;

periodically at a predetermined time after the auction has begun;

according to a frequency of a predetermined number of previous bids;

after waiting a random amount of time after a previous bid is placed;

according to a bid price achieved by the last bid;

more or less quickly if the auction is extended; and

after a minimum number of bids is placed.

67. The computer readable medium of claim 64, which further comprises instructions configured to direct a processor to automatically place the bid according to at least one bidding behavior.

68. The computer readable medium of claim 67, which further comprises instructions configured to direct a processor to automatically place the bid when the at least one bidding behavior comprises at least one of a maximum bid amount and a minimum bid increment.

69. A system, comprising:

means for monitoring an auction for at least one condition specified by a bidder; and

means for automatically placing a bid for the bidder if the at least one condition occurs, the bid having a bid price that is higher than the current high bid by a predetermined amount.

70. The system of claim 69, wherein the means for automatically placing a bid comprises at least one proxy bidder configured to place the bid in response to the condition occurring, wherein the at least one condition comprises at least one of an amount of time remaining in the auction and a predetermined time before the end of the auction.

71. The system of claim 69, wherein the means for automatically placing a bid comprises at least one proxy bidder configured to automatically place a bid for the bidder at least one of:

periodically at a predetermined time after a previous bid;

periodically at a predetermined time after the auction has begun;

according to a frequency of a predetermined number of previous bids;

after waiting a random amount of time after a previous bid is placed;

according to a bid price achieved by the last bid;

more or less quickly if the auction is extended; and

after a minimum number of bids is placed.

72. The system of claim 69, wherein the means for automatically placing a bid comprises at least one proxy bidder configured to automatically place a bid for the bidder according to at least one bidding behavior.

73. The system of claim 72, wherein the at least one bidding behavior comprises at least one of a maximum bid amount and a minimum bid increment.