Method, apparatus, and program for pricing, selling, and exercising options to purchase airline tickets
First Claim
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1. A data processing apparatus for determining a price of an option to purchase an airline ticket, comprising:
- a central controller including a CPU and a memory operatively connected to said CPU;
at least one terminal, adapted for communicating with said central controller, for transmitting to said central controller option pricing information including departure location criteria, destination location criteria, and travel criteria;
said memory in said central controller containing a program, adapted to be executed by said CPU, for calculating a price of an option to purchase within a future period, for a particular ticket price, an airline ticket satisfying the departure location criteria, destination location criteria, and travel criteria;
wherein said central controller receives said criteria from said terminal and calculates the option price based upon the criteria.
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Abstract
An apparatus, method, and program for determining a price of an option to purchase an airline ticket, and for facilitating the sale and exercise of those options. By purchasing an option, a customer can lock in a specified airfare without tying up his money and without risking the loss of the ticket price if his travel plans change. Pricing of the options may be based on departure location criteria, destination location criteria, and travel criteria.
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Citations
28 Claims
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1. A data processing apparatus for determining a price of an option to purchase an airline ticket, comprising:
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a central controller including a CPU and a memory operatively connected to said CPU; at least one terminal, adapted for communicating with said central controller, for transmitting to said central controller option pricing information including departure location criteria, destination location criteria, and travel criteria; said memory in said central controller containing a program, adapted to be executed by said CPU, for calculating a price of an option to purchase within a future period, for a particular ticket price, an airline ticket satisfying the departure location criteria, destination location criteria, and travel criteria; wherein said central controller receives said criteria from said terminal and calculates the option price based upon the criteria. - View Dependent Claims (2, 3)
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4. A method of determining a price of an option to purchase an airline ticket using a central controller including a CPU and a memory operatively connected to said CPU and containing a program adapted to be executed by said CPU for determining the price of an option, and a terminal adapted for communicating with said CPU, the method comprising the steps of:
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inputting departure location criteria to the controller via the terminal; inputting destination location criteria to the controller via the terminal; inputting travel criteria to the controller via the terminal; and calculating a price of an option that gives the customer a right to purchase within a future period, for a particular ticket price, an airline ticket satisfying the departure location criteria, the destination location criteria, and the travel criteria by having the CPU execute said program; and outputting the option price to the terminal.
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5. A data processing apparatus for determining a price of an option to purchase an airline ticket, comprising:
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a CPU; and a memory operatively connected to said CPU, said memory containing a program adapted to be executed by said CPU and said CPU and memory cooperatively adapted to receive option pricing information, and to calculate a price of an option to purchase within a future period, for a particular ticket price, an airline ticket satisfying the option pricing information. - View Dependent Claims (6, 7, 8, 9, 10, 11)
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12. A method of determining a price of an option to purchase an airline ticket using a central controller including a CPU and a memory operatively connected to said CPU and containing a program, adapted to be executed by said CPU, for determining a price of the option, the method comprising the steps of:
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inputting departure location criteria; inputting destination location criteria; inputting travel criteria provided by a user; and calculating the price of an option that gives the customer a right to purchase within a future period, for a particular ticket price, an airline ticket satisfying the departure location criteria, the destination location criteria, and the travel criteria, by having the CPU execute said program; and outputting the option price.
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13. A method of determining a price of an option to purchase an airline ticket, comprising the steps of:
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receiving option pricing information relative to the future purchase of a ticket; calculating the price for an option to purchase within a future period, for a particular ticket price, a ticket satisfying the option pricing information; and outputting the option price. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21)
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22. Computer executable process steps operative to control a computer, stored on a computer readable medium, for determining a price of an option to purchase an airline ticket, comprising:
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a step to receive departure location criteria; a step to receive destination location criteria; a step to receive travel criteria; a step to calculate the price for an option to purchase, within a future period, for a particular ticket price, an airline ticket satisfying the departure location criteria, the destination location criteria, and the travel criteria; and a step to output the option price.
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23. A method of pricing an option to purchase an airline ticket, comprising the steps of:
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inquiring on a ticket price for an airline ticket; receiving said ticket price; receiving an offer to purchase for a given price an option to purchase within a particular period, for a particular ticket price, the airline ticket; and purchasing said option at said option price. - View Dependent Claims (24, 25)
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26. A data processing apparatus for selling an option to purchase an airline ticket, comprising:
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a terminal adapted to communicate with a central controller that calculates a price of an option to purchase an airline ticket within a future period, for a particular ticket price, said terminal adapted to transmit to the central controller option pricing information comprising departure location criteria, destination location criteria, and travel criteria, and further adapted to receive from the central controller a price of an option satisfying the departure location criteria, destination location criteria, and travel criteria. - View Dependent Claims (27, 28)
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Specification