Methods for performing large scale auctions and online negotiations
First Claim
1. A method for conducting continuous auctions for continuous sale of identical items over a computer network consisting of plurality of buyers and at least one seller, the method comprising the following steps:
- communicating seller information including an estimated time interval to the next auction decision;
accepting buyer information for each of said buyers including a bid price, a bid entry time, a bid duration, and an intended purchase volume; and
dynamically scheduling a next auction through determining a response time for said buyers by using said buyer information, said scheduling adjusted in a manner such that buyers are retained in said auction for as lone as Possible.
2 Assignments
0 Petitions
Accused Products
Abstract
A method for performing continuous auctions over a computer network system consisting of a server/seller and multiple clients/buyers. The seller makes information about the type of sale items, the number of sale items, minimum bid price, time limits for bids to be submitted, and estimated time interval to the next auction decision available to the buyer by displaying it on buyers'"'"' computer terminals. Each buyer responds by entering a bid and such bid'"'"'s duration, within the time limits set by the seller, in to the auction system through buyers'"'"' computer terminals. Additionally, a buyer'"'"'s bid entry time is saved by the system. Determining the response time for present buyers to schedule the next auction. At least one auction winner, whose bid is within bid duration, is selected through a dynamically adjusted customer selection method.
277 Citations
62 Claims
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1. A method for conducting continuous auctions for continuous sale of identical items over a computer network consisting of plurality of buyers and at least one seller, the method comprising the following steps:
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communicating seller information including an estimated time interval to the next auction decision; accepting buyer information for each of said buyers including a bid price, a bid entry time, a bid duration, and an intended purchase volume; and dynamically scheduling a next auction through determining a response time for said buyers by using said buyer information, said scheduling adjusted in a manner such that buyers are retained in said auction for as lone as Possible. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A computer program device readable by a machine, tangibly embodying a program of instructions executable by a machine to perform method steps for conducting continuous auctions for continuous sale of identical items over a computer network consisting of plurality of buyers and at least one seller, the method comprising the following steps:
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communicating seller information including an estimated time interval to the next auction decision; accepting buyer information for each of said buyers including a bid price, a bid entry time, a bid duration, and an intended purchase volume; and dynamically scheduling a next auction through determining a response time for said buyers by using said buyer information, said scheduling adjusted in a manner such that buyers are retained in said auction for as lone as possible. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32)
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33. A method for conducting continuous auctions for continuous sale of identical items over a computer network consisting of plurality of buyers and at least one seller, the method comprising the following steps:
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communicating seller information including an estimated time interval to the next auction decision, and an asking price; accepting buyer information for each of said buyers including a bid price, a bid entry time, a bid duration, and an intended purchase volume; ascertaining all said buyers for whom said bid price is higher than said asking price; adjusting successive estimated time intervals using said buyer information in order to retain buyers having bid prices above said asking price in said auction for as lone as possible; and dynamically selecting at least one auction winner from among said buyers in each interval, based on said buyer information. - View Dependent Claims (34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47)
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48. A computer program device readable by a machine, tangibly embodying a program of instructions executable by a machine to perform method steps for conducting continuous auctions for continuous sale of identical items over a computer network consisting of plurality of buyers and at least one seller, the method comprising following steps:
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communicating seller information including an estimated time interval to the next auction decision, and an asking price; accepting buyer information for each of said buyers including a bid price, a bid entry time, a bid duration, and an intended purchase volume; ascertaining all said buyers for whom said bid price is higher than said asking price; adjusting successive estimated time intervals using said buyer information in order to retain buyers having bid prices above said asking price in said auction for as long as possible; and dynamically selecting at least one auction winner from among said buyers in each interval, based on said buyer information. - View Dependent Claims (49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62)
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Specification