Sealed-Bid Auction Comprising Staged Bid Publication
First Claim
1. A method of conducting a sealed-bid auction in behalf of an auction solicitor, the method comprising:
- receiving, at a data processing system, a first sealed bid and a second sealed bid in the sealed-bid auction;
classifying, at the data processing system, the first sealed bid into a first bucket based on a bid classification plan;
classifying, at the data processing system, the second sealed bid into a second bucket based on the bid classification plan; and
publishing, at the data processing system, the first bucket before publishing the second bucket.
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Accused Products
Abstract
A method of conducting a sealed-bid auction is disclosed that herds the bids into a smaller range than might otherwise occur. In accordance with the illustrative embodiment, each bid is classified into exactly one of a plurality of buckets. Each bucket, and the bids in the bucket, if there are any, are published at different times in accordance with a bid publishing schedule. The bids in each bucket are published simultaneously, and the bid publishing schedule dictates that buckets comprising bids that are more advantageous to the auction solicitor are published before buckets comprising bids that are less advantageous to the auction solicitor.
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Citations
23 Claims
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1. A method of conducting a sealed-bid auction in behalf of an auction solicitor, the method comprising:
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receiving, at a data processing system, a first sealed bid and a second sealed bid in the sealed-bid auction; classifying, at the data processing system, the first sealed bid into a first bucket based on a bid classification plan; classifying, at the data processing system, the second sealed bid into a second bucket based on the bid classification plan; and publishing, at the data processing system, the first bucket before publishing the second bucket. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method of conducting a sealed-bid auction in behalf of an auction solicitor, the method comprising:
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receiving, at a data processing system, a first sealed bid from a first bidder; classifying, at the data processing system, the first sealed bid into a first bucket in accordance with a bid classification plan; entering, at the data processing system, the first sealed bid into the auction; receiving, at the data processing system, a second sealed bid from a second bidder; classifying, at the data processing system, the second sealed bid into a second bucket in accordance with the bid classification plan; entering, at the data processing system, the second sealed bid into the auction except when the second bucket has been published; and publishing, at the data processing system, the first bucket at a different time than the second bucket. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18)
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19. A method of conducting a sealed-bid auction in behalf of an auction solicitor, the method comprising:
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receiving, at a data processing system, a plurality of sealed bids for the sealed-bid auction; classifying, at the data processing system, each of the sealed bids into exactly one of a plurality of buckets based on a bid classification plan; and publishing, at the data processing system, each bucket at a different time than every other bucket in accordance with a bid publication plan; wherein the buckets at the beginning and end of the bid classification plan are wider than the buckets in the middle of the bid classification plan. - View Dependent Claims (20, 21, 22, 23)
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Specification