Method and system for real time pricing of fine-grained resource purchases

• US 6,591,253 B1
• Filed: 12/17/1999
• Issued: 07/08/2003
• Est. Priority Date: 12/17/1999
• Status: Expired due to Term

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: LaPotin, David, Rajamony, Ramakrishnan, Dinkin, Sam
• Primary Examiner(s): Trammell, James P.
• Assistant Examiner(s): CHEUNG, MARY DA ZHI WANG
• Application Number:
  US09/466,732
• Time in Patent Office: 1,299 Days
• Field of Search: 705/400, 705/412, 165/238-239
• US Class Current: 705/412
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 50/06 Energy or water supply

Abstract

A method and system for controlling the purchase of fine-grained resource purchases, such as utility resources or access to limited highway lanes. Real time pricing based upon current demand and/or usage is periodically determined. Access to that real time pricing information is obtained by individual users via a distributed computing network or radio frequency broadcast system and utilization of those resources is then locally controlled based upon that pricing information. Access to limited highway lanes may be priced based upon current actual utilization and pricing information is then broadcast, permitting users to selectively access those lanes based upon real time pricing decisions by those users.

Claims

1. A method for real time pricing of fine-grained resource purchases, said method comprising the steps of:

periodically determining real time pricing for a fine-grained resource utilizing a distributed computing network;

providing a price to a user for said fine-grained resource prior to purchase to allow said user to know the price prior to purchase, wherein said price is the actual cost of said fine-grained resource;

scheduling local utilization of said fine-grained resource by said user in response to variations in said real time pricing; and

posting charges for purchase of said fine-grained resource to said user.

2. The method for real time pricing of fine-grained resource purchases according to claim 1, wherein said step periodically determining real time pricing for a fine-grained resource utilizing a distributed computing network comprises the step of periodically accessing real time pricing data for a fine-grained resource from a plurality of sources for said fine-grained resource utilizing a distributed computing network.

3. The method for real time pricing of fine-grained resource purchases according to claim 1, wherein said step of periodically determining real time pricing for a fine-grained resource utilizing a distributed computer network comprises the step of periodically determining real time pricing for a fine-grained resource utilizing current price data obtained via a distributed computing network and a prediction of future trends of said price.

4. The method for real time pricing of fine-grained resource purchases according to claim 1, wherein said step of periodically determining real time pricing for a fine-grained resource utilizing a distributed computer network comprises the step of periodically determining real time pricing for a fine-grained resource over a plurality of service quality levels utilizing a distributed computer network.

5. The method for real time pricing of fine-grained resource purchases according to claim 4, wherein said step of periodically determining real time pricing for a fine-grained resource over a plurality of service quality levels utilizing a distributed computer network comprises the step of periodically determining real time pricing for a fine-grained resource over a plurality of service quality levels which include interruptibility or specified maximum or minimum purchases utilizing a distributed computer network.

6. The method for real time pricing of fine-grained resource purchases according to claim 1, wherein said step of scheduling local utilization of said fine-grained resource by a user in response to variations in said real time pricing comprises the step of controlling initiation of devices which consume said fine-grained resource at a user'"'"'s location in response to variations in said real time pricing.

7. A system for real time pricing of fine-grained resource purchases, said system comprising:

communication means for periodically determining real time pricing for a fine-grained resource utilizing a distributed computing network;

communication means for providing a price to said user for said fine-grained resource prior to purchase to allow said user to know the price prior to purchase, wherein said price is the actual cost of said fine-grained resource;

controller means for scheduling local utilization of said fine-grained resource by said user in response to variations in said real time pricing; and

billing means for posting charges for purchase of said fine-grained resource to said user.

8. The system for real time pricing of fine-grained resource purchases according to claim 7, wherein said communication means for periodically determining real time pricing for a fine-grained resource utilizing a distributed computing network comprises communication means for periodically accessing real time pricing data for a fine-grained resource from a plurality of sources for said fine-grained resource utilizing a distributed computing network.

9. The system for real time pricing of fine-grained resource purchases according to claim 7, wherein said communication means for periodically determining real time pricing for a fine grained resource utilizing a distributed computing network comprises communication means for periodically accessing real time pricing data for a fine-grained resource via a distributed computing network and for predicting future trends of said price.

10. The system for real time pricing of fine-grained resource purchases according to claim 7, wherein said controller means further includes means for controlling initiation of devices which consume said fine-grained resource at a user'"'"'s location in response to variations in said real time pricing.

11. A system for real time pricing of utility resources, said system comprising:

a local communication device for periodically determining real time pricing of utility resources utilizing a distributed computing network and for providing said real time pricing of utility resources to individual users prior to purchase thereof;

controller means for scheduling local devices which utilize said utility resource in response to individual user inputs and variations in said real time pricing of said utility resources; and

billing means for posting charges for purchases of utility resources by individual users.

12. The system for real time pricing of utility resources according to claim 11, wherein said utility resources comprise electrical power and wherein said controller means includes interface means for initiating local electrical appliances in response to variations in said real time pricing of said electrical power.

13. The system for real time pricing of utility resources according to claim 11, wherein said distributed computing network comprises the world wide web.

14. The system for real time pricing of utility resources according to claim 11, wherein said utility resources comprise two different types of utilities and wherein said controller means includes interface means for initiating variable fuel operation within local appliances in response to variations in said real time pricing of said utility resources.