SYSTEM AND METHOD
First Claim
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1. A method of allocating an auction payment, comprising:
- determining that an expected gain as a result of winning an auction is insufficient incentive for at least one actual or potential auction participant to place or raise a respective bid or offer price;
defining an incentive for the at least one actual or potential auction participant to place or raise a respective bid or offer price prior to or during an auction;
conducting the auction; and
outputting a determination of the defined incentive by an automated computing device dependent on the placed or raised respective bid or offer price, for at least one auction participant for placing or raising a respective bid or offer price.
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Abstract
A system and method providing for communication and resolution of utility functions between participants, wherein the utility function is evaluated based on local information at the recipient to determine a cost value thereof. A user interface having express representation of both information elements, and associated reliability of the information. An automated system for optimally conveying information based on relevance and reliability.
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Citations
20 Claims
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1. A method of allocating an auction payment, comprising:
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determining that an expected gain as a result of winning an auction is insufficient incentive for at least one actual or potential auction participant to place or raise a respective bid or offer price; defining an incentive for the at least one actual or potential auction participant to place or raise a respective bid or offer price prior to or during an auction; conducting the auction; and outputting a determination of the defined incentive by an automated computing device dependent on the placed or raised respective bid or offer price, for at least one auction participant for placing or raising a respective bid or offer price.
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2. An auction method, comprising:
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announcing an auction for pricing a transaction between at least one offeror and at least one bidder, in accordance with an incentive structure adapted to recruit at least one competitor to the at least one offeror or at least one winning bidder, under condition that a portion of the transaction price is allocated to competing bidders or competing offerors who are not parties to the transaction; and conducting the auction, with an allocation of the proceeds determined by an automated computing device in accordance with the incentive structure.
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3. An auction method, comprising:
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defining a conditional payment as an incentive for the at least one actual or potential auction participant to compete in the auction, the conditional payment being dependent on intermediate states in the auction; conducting the auction; and automatically determining the conditional payment by an automated computing device based on the intermediate states, wherein at least one non-prevailing bidder or offeror receives the conditional payment.
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4. An automated negotiation method for control of allocation of a set of resources between competing parties in an auction, comprising:
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receiving, from each of a plurality of parties, a utility function representing a bid or offer value; computing a set of successful bids from the plurality of bids and offers; and receiving from at least one party placing a respective successful bid or offer, a payment; and computing, using an automated computing device, a distributing of a first portion of the received payment to a respective counterparty and a second portion of the received payment to at least one competing party to a successful bidder or offeror. - View Dependent Claims (5, 8, 9, 10, 11, 12)
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6. A computer memory storing instructions for execution by one or more processors, comprising:
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instructions to receive, from each of a plurality of bidders, a utility function representing a value to the bidder to obtain of a set of resources; instructions to receive, from each of a plurality of offerors, a utility function representing a value to the offeror to relinquish a set of resources; instructions to compute a set of successful bids from the plurality of bidders and plurality of offers, a successful bid comprising a matching of a maximimum aggregate value of the sets of resources to the bidders and a minimum aggregate value of the sets of resources to the offerors, wherein the maximum aggregate value of bids equals or exceeds the minimum aggregate value of offers; and instructions to define, for each set of resources from a bidder placing a respective successful bid, a Vickrey price, and a payment for each set of resources to each respective offeror of a respective successful bid of its offer price, with at least a portion of any surplus being allocated to at least one bidder or offeror based on a value bid or offered. - View Dependent Claims (7)
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13. An apparatus implementing an automated negotiation, comprising:
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an automated processor adapted to compute a set of successful bids from respective utility functions received from each of a plurality of bidders and plurality of offers, a successful bid comprising a matching of a maximum aggregate value of the sets of resources to the bidders and a minimum aggregate value of the sets of resources to the offerors, wherein the maximum aggregate value of bids equals or exceeds the minimum aggregate value of offers; and an output from the automated processor defining, for each set of resources won by a bidder placing a respective successful bid, a Vickrey price, with an allocation of any surplus of the Vickrey price over the offer price of an offeror of a respective successful bid to at least a portion of the bidders based on a respective value bid. - View Dependent Claims (14)
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15. An auction method, comprising:
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automatically conducting an auction in which at least one of competing bidders and competing offerors compete to participate in a transaction based on a price, and in which a portion of the transaction price is allocated to the at least one of competing bidders and competing offerors who do not initially participate in the transaction, in a manner adapted to promote participation in the transaction and competition, to determine a transaction price and the parties in the transaction; and automatically defining a distributing of a portion of the transaction price to at least a portion of the at least one of competing bidders and competing offerors who are not parties in the transaction. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification