DYNAMIC DISCOUNTING SYSTEM AND METHOD

• US 20110307345A1
• Filed: 07/01/2011
• Published: 12/15/2011
• Est. Priority Date: 10/31/2008
• Status: Abandoned Application

• Current Assignee: Pollen, Inc.
• Original Assignee: Pollen, Inc.
• Inventors: Kemper, Alexander C., Owens, Roy E., Thomas, Peter, Iorio, Patricia, Hedrick, George W.
• Application Number:
  US13/175,287
• Publication Number:
  US 20110307345A1
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: Y02P 90/90 Financial instruments for climate change mitigation, e.g. environmental taxes, subsidies or financing

Abstract

A system and method for the dynamic discovery of prices through the use of an auction is provided. In one embodiment, the system allows a seller to auction homogenous assets or liabilities to a plurality of bidders. The assets or liabilities may be organized in baskets by maturity, by geographic location, by type, by a property, etc. The system may determine the eligibility for acceptance of bids submitted by the bidders and a plurality of bids may be determined to be eligible for acceptance using the same or different criteria. Further, a margin by which the bids are acceptable may be determined and a representation of the margin may be communicated to the seller or a bidder. The seller may configure an auction event with auction parameters, such as bid floors and hurdle rates and may alter event parameters while the auction is ongoing.

Claims

1. A computer-implemented method for conducting an auction, the method comprising:

receiving at least one specified value for a parameter;

organizing, utilizing a processor, at least one item into at least one basket according to the at least one specified parameter value, each basket having a calculable value;

receiving, utilizing a network interface, at least one bid comprising at least one bid value from at least one bidder for at least one basket.

2. The method of claim 0 wherein bid value is selected from the group consisting of a cash value, an annual percentage rate, a period of time, and a value specified in relation to the calculable value of the basket associated with the bid value.

3. The method of claim 0 wherein the parameter value is selected from the group consisting of a maturity, a geographic location, a type, and a property.

4. The method of claim 0 further comprising converting the at least one bid value of the at least one received bid to an equivalent bid value having a different representation.

5. The method of claim 0 further comprising determining, utilizing a processor, at least one winning bid for at least one basket based at least in part on the bid value.

6. The method of claim 0 wherein receiving at least one bid comprises receiving a plurality of bids, and determining at least one winning bid comprises determining, utilizing a processor, a plurality of winning bids for one basket based at least in part on the bid value of each bid.

7. The method of claim 6 wherein at least two of the plurality of winning bids have different bid values.

8. The method of claim 0 further comprising determining, utilizing a processor, the initial eligibility of at least one bid for an associated basket based at least in part on the bid value.

10. The method of claim 8 further comprising indicating the eligibility of the at least one bid utilizing a color indicator.

11. The method of claim 8 further comprising indicating the minimum bid value required to make a bid eligible.

12. The method of claim 8 further comprising receiving a specified total for the at least one item, and wherein determining the eligibility of at least one bid comprises determining the eligibility of a plurality of bids based at least in part on the specified total.

13. The method of claim 8, further comprising receiving a hurdle rate for at least one basket, and wherein determining the eligibility of at least one bid comprises determining the eligibility of at least one bid based at least in part on the at least one basket hurdle rate.

14. The method of claim 8, further comprising receiving a hurdle rate for at least one supplier, and wherein determining the eligibility of at least one bid comprises determining the eligibility of at least one bid based at least in part on the at least one supplier hurdle rate.

9. The method of claim 0 further comprising determining, utilizing a processor, the initial eligibility of at least one bid from an associated bidder based at least in part on the bid value.

15. The method of claim 0 wherein each of the at least one item is selected from the group consisting of an outstanding payable, an outstanding receivable, rent due, wages due, lease payments, interest payments, pension obligations, debt payments, and a package of commercial loans.

16. The method of claim 15 wherein the parameter is selected from the group consisting of the age of the at least one item and the maturity date of the at least one item.

17. The method of claim 0 wherein each bidder is presented with bidder-specific baskets for bidding.

18. The method of claim 0 further comprising computing a suggested bid for a bidder and transmitting the computed bid to a bidder.

19. A computer-implemented system for conducting an auction, the system comprising:

a first interface for receiving at least one specified value for a parameter;

a processor configured to organize at least one item into at least one basket according to the at least one specified parameter value, each basket having a calculable value;

a second interface for receiving at least one bid comprising at least one bid value from at least one bidder for at least one basket.

20. The system of claim 19 wherein bid value is selected from the group consisting of a cash value, an annual percentage rate, a period of time, and a value specified in relation to the calculable value of the basket associated with the bid value.

21. The system of claim 19 wherein the parameter value is selected from the group consisting of a maturity, a geographic location, a type, and a property.

22. The system of claim 19 wherein the processor is further configured to convert the at least one bid value of the at least one received bid to an equivalent bid value having a different representation.

23. The system of claim 19 wherein the processor is further configured to determine at least one winning bid for at least one basket based at least in part on the bid value.

24. The system of claim 19 wherein the processor is further configured to receive a plurality of bids and determine a plurality of winning bids for one basket based at least in part on the bid value of each bid.

25. The system of claim 24 wherein at least two of the plurality of winning bids have different bid values.

26. The system of claim 19 wherein the processor is further configured to determine the initial eligibility of at least one bid for an associated basket based at least in part on the bid value.

27. The system of claim 19 wherein the processor is further configured to determine the initial eligibility of at least one bid from an associated bidder based at least in part on the bid value.

28. The system of claim 27 wherein the processor is further configured to indicate the eligibility of the at least one bid utilizing a color indicator.

29. The system of claim 27 wherein the processor is further configured to indicate the minimum bid value required to make a bid eligible.

30. The system of claim 27 wherein the processor is further configured to receive a specified total for the at least one item, and to determine the eligibility of a plurality of bids based at least in part on the specified total.

31. The system of claim 27, wherein the processor is further configured to receive a hurdle rate for at least one basket, and to determine the eligibility of at least one bid based at least in part on the at least one basket hurdle rate.

32. The system of claim 27, wherein the processor is further configured to receive a hurdle rate for at least one supplier, and to determine the eligibility of at least one bid based at least in part on the at least one supplier hurdle rate.

33. The system of claim 19 wherein each of the at least one item is selected from the group consisting of an outstanding payable, an outstanding receivable, rent due, wages due, lease payments, interest payments, pension obligations, debt payments, and a package of commercial loans.

34. The system of claim 33 wherein the parameter is selected from the group consisting of the age of the at least one item and the maturity date of the at least one item.

35. The system of claim 19 wherein the processor is further configured to present each bidder with bidder-specific baskets for bidding.

36. The system of claim 19 wherein the processor is further configured to compute a suggested bid for a bidder and transmit the computed bid to a bidder.