Data Processing System That Provides An Auction With Programmable Proxy Bids

• US 20080033868A1
• Filed: 10/01/2007
• Published: 02/07/2008
• Est. Priority Date: 08/23/2000
• Status: Abandoned Application

• Current Assignee: Demont Srl
• Original Assignee: Demont Srl
• Inventors: Gologorsky, Steven, Parlato, Brian
• Application Number:
  US11/865,568
• Publication Number:
  US 20080033868A1
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

In the context of computer-based auctions, innovations in proxy bids and auction formats are disclosed. In accordance with the illustrative embodiment, a bidder can program a data processing system to enter one or more bids by proxy. The capabilities offered by the data processing system include: determining one or more bid variables based, at least in part, on the identity of one or more bidders in an auction, or determining one or more bid variables based, at least in part, on the absence of one or more bidders from an auction, or determining one or more bid variables based, at least in part, on the bid variables in one or more other bids, or determining one or more bid variables based, at least in part, on the results of another auction, or determining one or more bid variables based, at least in part, on default values, or waiting a specific or random amount of time before entering a bid in behalf of a bidder, or any combination of these.

Claims

1. A method of conducting a sealed-bid auction in behalf of an auction solicitor, the method comprising:

entering, at a data processing system, a first sealed bid in the sealed-bid auction in behalf of a first bidder;

entering, at the data processing system, a second sealed bid in the sealed-bid auction in behalf of a second bidder;

ranking, at the data processing system, the advantageousness of the first sealed bid and the second sealed bid to the auction solicitor;

outputting from the data processing system the ranking of the first sealed bid and the second sealed bid to the first bidder and to the second bidder;

withholding, at the data processing system, the contents of the first sealed bid from the second bidder until after the opportunity for the second bidder to submit a revised second bid into the sealed-bid auction has expired.

2. The method of claim 1 further comprising withholding, at the data processing system, the contents of the second sealed bid from the first bidder until after the opportunity for the first bidder to submit a revised first bid into the sealed-bid auction has expired.

3. The method of claim 1 wherein the sealed-bid auction comprises a temporally-distinct bidding phase and a resolution phase.

4. The method of claim 3 wherein outputting from the data processing system the ranking of the first sealed bid and the second sealed bid to the first bidder and to the second bidder is performed during the bidding phase.

5. The method of claim 3 further comprising:

outputting from the data processing system during the resolution phase the contents of the first sealed bid to the second bidder; and

outputting from the data processing system during the resolution phase the contents of the second sealed bid to the first bidder.

6. The method of claim of 1 wherein said ranking is ordinal.

7. A method of conducting a sealed-bid auction in behalf of an auction solicitor, which sealed-bid auction comprises a bidding phase and a resolution phase, the method comprising:

entering, at a data processing system and during the bidding phase, a first sealed bid into the sealed-bid auction in behalf of a first bidder;

entering, at the data processing system and during the bidding phase, a second sealed bid into the auction in behalf of a second bidder;

ranking, at the data processing system and during the bidding phase, the advantageousness of the first sealed bid and the second bid to the auction solicitor; and

outputting, from the data processing system and during the bidding phase, the ranking to the first bidder.

8. The method of claim 7 further comprising entering, at the data processing system and during the bidding phase, a revised first sealed bid into the sealed-bid auction in behalf of the first bidder.

9. The method of claim 7 further comprising withholding, at the data processing system, the contents of the second sealed bid from the first bidder until the resolution phase.

10. The method of claim of 7 wherein said ranking is ordinal.