Choice Engine

• US 20090327163A1
• Filed: 08/21/2007
• Published: 12/31/2009
• Est. Priority Date: 08/21/2006
• Status: Abandoned Application

• Current Assignee: Choice Engine Pty., Limited
• Original Assignee: Choice Engine Pty., Limited
• Inventors: Swan, Peter Lawrence, Dennon, Stuart
• Application Number:
  US12/438,509
• Publication Number:
  US 20090327163A1
• Time in Patent Office: Days
• US Class Current: 705/400
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

Disclosed are arrangements (700) that construct (803) attributes used by a consumer (703) to purchase an item, determine (803) how much of each attribute is contained in each candidate item, estimate (806) marginal costs for the attributes, establish (303) the preferences of the consumer for the various attributes, determine (803) utility scores for the candidate items that reflect the extent to which the candidate items provide the consumer with preferred attributes, and rank the candidate items, in an ordered list, in terms of their respective utility scores.

Claims

1. A method of identifying a desired item from a set of candidate items each associated with at least one of directly observable factors, and intangible factors that indirectly reflect said directly observable factors, the method comprising the steps of:

constructing, from the associated factors, attributes which characterise the candidate items;

assigning the amount of each attribute preferred by a user;

estimating the amount of each attribute associated with each of the items;

determining the marginal cost of the attributes;

determining the extent to which each candidate item provides the amount of each attribute required by the user; and

constructing a list of at least some of the candidate items in an order that reflects how each said candidate item in the list satisfies the users preferences subject to the assigned preferences of the user, and given the marginal cost of the attributes, wherein the desired item is an item in the ordered list.

2. A method according to claim 1, comprising a farther step of specifying a user budget for the desired item, and wherein the step of constructing the list of ordered candidate items is dependent upon the specified user budget.

3. A method according to claim 2, comprising a further step of selecting, from the ordered list, the item which provides for the optimal combination and levels of attributes given the consumer'"'"'s preferences and the estimated marginal costs to the consumer of the attributes in question and budget.

4. A method according to claim 1, comprising the further steps of:

matching a set of available items against the list of candidate items;

if an available item matches a candidate item in the list, specifying the matching available item as the desired item; and

if none of the available items match a candidate item in the list, generating a request for the desired item said request including at least some of said attributes and the amount of each attribute preferred by the user.

5. A method according to claim 1, wherein:

the associated factors are one of internal factors possessed by the candidate items, and external factors relating to how the candidate items are offered for sale; and

the corresponding constructed attributes are one of internal attributes possessed by the candidate items, and external attributes relating to the manner in which the candidate items are offered for sale.

6. A method according to claim 5 wherein:

the manner in which the candidate items are offered for sale includes placing advertisements for the candidate items; and

the associated external factor relates to the amount of information provided in the advertisement.

7. A method according to claim 1, wherein the intangible factors include a report on the condition of a candidate item by the user.

8. A method according to claim 1, comprising the further steps of:

storing information about the amount of each attribute preferred by the user; and

presenting the stored information to another user prior to the assigning step.

9. A method according to claim 1, wherein the marginal costs of the attributes is zero.

10. A method according to claim 1, comprising the further steps of:

matching a set of available items against the list of candidate items;

constructing a list of at least some of the available items in an order that reflects how each said available item in the list satisfies the users preferences subject to the assigned preferences of the user, and given the marginal cost of the attributes.

11. A method of determining an ask price for an item to be sold, said item being an available member of a set of candidate items each associated with at least one of directly observable factors, and intangible factors that indirectly reflect said directly observable factors, the method comprising the steps of:

constructing, from the associated factors, attributes which characterise the set of candidate items;

estimating the amount of each attribute associated with each of the candidate items;

determining the marginal cost of the attributes associated with each of the candidate items;

specifying one of (a) the item to be sold and (b) said at least one of directly observable factors, and intangible factors associated with the item to be sold;

if the item to be sold is specified, determining said at least one of directly observable factors, and intangible factors associated with the item to be sold;

constructing, from the factors associated with the item to be sold, attributes other than ask price which characterise the item to be sold;

specifying (a) a sub-set of the candidate items in regard to which a desired rank is to be determined, and (b) a desired rank of the item to be sold in regard to the specified sub-set;

determining the ask price at which the item to be sold should be offered for sale, dependent upon the constructed attributes which characterise the item to be sold, the specified sub-set of candidate items, the specified rank of the item to be sold, and the extent to which each candidate item provides the amount of each attribute which characterise the item to be sold;

wherein said determined ask price causes the item to be sold to have the desired rank in an ordered list of at least some of the sub-set of candidate items, said list having an order that reflects how each said candidate item in the list satisfies users preferences subject to assigned preferences of a user, and given the marginal cost of the attributes, wherein the item to be sold is an item in the ordered list.

12. An apparatus for identifying a desired item from a set of candidate items each associated with at least one of directly observable factors, and intangible factors that indirectly reflect said directly observable factors, the apparatus comprising:

means for constructing, from the associated factors, attributes which characterise the candidate items;

means for assigning the amount of each attribute preferred by a user;

means for estimating the amount of each attribute associated with each of the items;

means for determining the marginal cost of the attributes;

means for determining the extent to which each candidate item provides the amount of each attribute required by the user; and

means for constructing a list of at least some of the candidate items in an order that reflects how each said candidate item in the list satisfies the users preferences subject to the assigned preferences of the user, and given the marginal cost of the attributes, wherein the desired item is an item in the ordered list.

13. An apparatus for determining an ask price for an item to be sold, said item being an available member of a set of candidate items each associated with at least one of directly observable factors, and intangible factors that indirectly reflect said directly observable factors, the apparatus comprising:

means for constructing, from the associated factors, attributes which characterise the set of candidate items;

means for estimating the amount of each attribute associated with each of the candidate items;

means for determining the marginal cost of the attributes associated with each of the candidate items;

means for specifying one of (a) the item to be sold and (b) said at least one of directly observable factors, and intangible factors associated with the item to be sold;

means, if the item to be sold is specified, for determining said at least one of directly observable factors, and intangible factors associated with the item to be sold;

means for constructing, from the factors associated with the item to be sold, attributes other than ask price which characterise the item to be sold;

means for specifying (a) a sub-set of the candidate items in regard to which a desired rank is to be determined, and (b) a desired rank of the item to be sold in regard to the specified sub-set;

means for determining the ask price at which the item to be sold should be offered for sale, dependent upon the constructed attributes which characterise the item to be sold, the specified sub-set of candidate items, the specified rank of the item to be sold, and the extent to which each candidate item provides the amount of each attribute which characterise the item to be sold;

wherein said determined ask price causes the item to be sold to have the desired rank in an ordered list of at least some of the sub-set of candidate items, said list having an order that reflects how each said candidate item in the list satisfies users preferences subject to assigned preferences of a user, and given the marginal cost of the attributes, wherein the item to be sold is an item in the ordered list.

14. An apparatus for identifying a desired item from a set of candidate items each associated with at least one of directly observable factors, and intangible factors that indirectly reflect said directly observable factors, the apparatus comprising:

a memory for storing a program; and

a processor for executing the program, said program comprising;

code for constructing, from the associated factors, attributes which characterise the candidate items;

code for assigning the amount of each attribute preferred by a user;

code for estimating the amount of each attribute associated with each of the items;

code for determining the marginal cost of the attributes;

code for determining the extent to which each candidate item provides the amount of each attribute required by the user; and

code for constructing a list of at least some of the candidate items in an order that reflects how each said candidate item in the list satisfies the users preferences subject to the assigned preferences of the user, and given the marginal cost of the attributes, wherein the desired item is an item in the ordered list.

15. An apparatus for determining an ask price for an item to be sold, said item being an available member of a set of candidate items each associated with at least one of directly observable factors, and intangible factors that indirectly reflect said directly observable factors, the apparatus comprising:

a memory for storing a program; and

a processor for executing the program, said program comprising;

code for constructing, from the associated factors, attributes which characterise the set of candidate items;

code for estimating the amount of each attribute associated with each of the candidate items;

code for determining the marginal cost of the attributes associated with each of the candidate items;

code for specifying one of (a) the item to be sold and (b) said at least one of directly observable factors, and intangible factors associated with the item to be sold;

code, if the item to be sold is specified, for determining said at least one of directly observable factors, and intangible factors associated with the item to be sold;

code for constructing, from the factors associated with the item to be sold, attributes other than ask price which characterise the item to be sold;

code for specifying (a) a sub-set of the candidate items in regard to which a desired rank is to be determined, and (b) a desired rank of the item to be sold in regard to the specified sub-set;

code for determining the ask price at which the item to be sold should be offered for sale, dependent upon the constructed attributes which characterise the item to be sold, the specified sub-set of candidate items, the specified rank of the item to be sold, and the extent to which each candidate item provides the amount of each attribute which characterise the item to be sold;

wherein said determined ask price causes the item to be sold to have the desired rank in an ordered list of at least some of the sub-set of candidate items, said list having an order that reflects how each said candidate item in the list satisfies users preferences subject to assigned preferences of a user, and given the marginal cost of the attributes, wherein the item to be sold is an item in the ordered list.

16. A computer program product including a computer readable medium having recorded thereon a computer program for directing a processor to execute a method for identifying a desired item from a set of candidate items each associated with at least one of directly observable factors, and intangible factors that indirectly reflect said directly observable factors, the program comprising:

code for constructing, from the associated factors, attributes which characterise the candidate items;

code for assigning the amount of each attribute preferred by a user;

code for estimating the amount of each attribute associated with each of the items;

code for determining the marginal cost of the attributes;

code for determining the extent to which each candidate item provides the amount of each attribute required by the user; and

code for constructing a list of at least some of the candidate items in an order that reflects how each said candidate item in the list satisfies the users preferences subject to the assigned preferences of the user, and given the marginal cost of the attributes, wherein the desired item is an item in the ordered list.

17. A computer program product including a computer readable medium having recorded thereon a computer program for directing a processor to execute a method for determining an ask price for an item to be sold, said item being an available member of a set of candidate items each associated with at least one of directly observable factors, and intangible factors that indirectly reflect said directly observable factors, the program comprising:

code for constructing, from the associated factors, attributes which characterise the set of candidate items;

code for estimating the amount of each attribute associated with each of the candidate items;

code for determining the marginal cost of the attributes associated with each of the candidate items;

code for specifying one of (a) the item to be sold and (b) said at least one of directly observable factors, and intangible factors associated with the item to be sold;

code, if the item to be sold is specified, for determining said at least one of directly observable factors, and intangible factors associated with the item to be sold;

code for constructing, from the factors associated with the item to be sold, attributes other than ask price which characterise the item to be sold;

code for specifying (a) a sub-set of the candidate items in regard to which a desired rank is to be determined, and (b) a desired rank of the item to be sold in regard to the specified sub-set;

code for determining the ask price at which the item to be sold should be offered for sale, dependent upon the constructed attributes which characterise the item to be sold, the specified sub-set of candidate items, the specified rank of the item to be sold, and the extent to which each candidate item provides the amount of each attribute which characterise the item to be sold;

wherein said determined ask price causes the item to be sold to have the desired rank in an ordered list of at least some of the sub-set of candidate items, said list having an order that reflects how each said candidate item in the list satisfies users preferences subject to assigned preferences of a user, and given the marginal cost of the attributes, wherein the item to be sold is an item in the ordered list.