Methods, systems, and computer program products for dynamically bidding in and conducting multiple simultaneous online auctions located across multiple online auction sites

• US 6,976,005 B1
• Filed: 09/21/2000
• Issued: 12/13/2005
• Est. Priority Date: 09/21/2000
• Status: Expired due to Fees

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Garg, Rahul, Bansal, Vipul
• Primary Examiner(s): Smith, Jeffrey A.
• Application Number:
  US09/667,169
• Time in Patent Office: 1,909 Days
• Field of Search: 705/26, 705/27, 705/37
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 30/0617 Representative agent
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

The use of software-based agents to act on behalf of human bidders for dynamic participation in multiple simultaneous online auctions is disclosed. The software-based agents may reside on computer systems or on any type of stationary or mobile terminal. On the basis of bidding-related information from a bidder, a software agent selects a plurality of auctions to place bids in. Upon being outbid, the agent determines whether to place an additional bid in a further auction. The agent can make such a determination on the basis of maximising profitability or surplus.

Claims

1. A method of dynamically bidding, through a software agent, in online auctions accessible over a communications network, said method comprising:

said agent initially receiving bidding-related information from a bidder;

said agent initially selecting a plurality of auctions to place bids in, in accordance with said bidding-related information and a current status of one or more auctions;

said agent placing bids in said plurality of auctions, wherein said plurality of auctions are located across multiple online auction sites and are scheduled to close for bidding simultaneously; and

said agent, on being outbid in an auction and on the basis of said bidding-related information and by checking the current status of one or more auctions, wherein said checking comprises obtaining information relating to a value of a current highest bid in a first auction and using said information in itself determining whether to place an additional bid in said first auction or some other auction and, if said agent determines to place an additional bid, said agent selecting an auction to place said additional bid in and placing said additional bid in said selected auction,

wherein said bidding-related information received from said bidder comprises a specified limit on a total value of each bid in each auction and a total value of all bids from all auctions,

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that a current bidder surplus of said bid is maximized and non-negative, wherein said current bidder surplus of said bid comprises an excess of a monetary value attached by said bidder to an item to be bid upon over a monetary value of said bid by said agent, and

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder profitability of said bid is maximized and non-negative, wherein said current bidder profitability of said bid comprises a ratio of said current bidder surplus to said monetary value of said bid by said agent.

2. The method according to claim 1, wherein said auctions open for bidding at the same time.

3. The method according to claim 1, wherein said bidding-related information received from said bidder further comprises any of:

a specified list of auctions to which the agent, without further recourse to said bidder, should restrict participation in;

specified limits on the values of bids that can be placed by said agent, without further recourse to said bidder, in various auctions;

a specified limit on the number of simultaneously outstanding bids that said agent, without further recourse to said bidder, can have at any time; and

a specified limit on the sum of values of all simultaneously outstanding bids that said agent, without further recourse to said bidder, can have at any time.

4. The method according to claim 1, wherein said current bidder profitability of said bid is further required to be greater than a bidder-specified minimum limit.

5. The method according to claim 1, wherein:

said auctions are ascending price auctions for selling to bidders;

said specified limits on the values of bids that can be placed by said agent comprise maximum allowable values;

said specified limit on the sum of values of all simultaneously outstanding bids that said agent can have at any time comprises a maximum allowable value; and

said current bidder surplus for a bid is computed by said agent by subtraction of a new computed bid value from the maximum allowable bid value specified by the bidder, for a particular auction.

6. The method according to claim 1, wherein:

said auctions are descending price auctions for purchasing from bidders;

said specified limits on the values of bids that can be placed by said agent comprise minimum allowable values; and

said current bidder surplus for a bid is computed by said agent by subtraction of a minimum allowable bid value specified by the bidder from a new computed bid value, for a particular auction.

7. The method according to claim 1, wherein said bidding-related information received from said bidder further comprises a specified rule for determining at any time, whether said agent, without further recourse to said bidder, should place additional bids and, if so, in which auctions to place said additional bids.

8. A method of conducting online auctions, said method comprising:

arranging offerings for auction in one or more selected groups located across multiple online auction sites;

constraining all of said auctions within the same group from said one or more selected groups to close for bidding simultaneously; and

soliciting bids in one or more of said auctions by software agents representing bidders, said software agents determining at any time, on the basis of bidding-related information input by a bidder and by checking the current status of one or more auctions, wherein said checking comprises obtaining information relating to a value of a current highest bid in a first auction and using said information in determining whether to place an additional bid in said first auction or some other auction and, if said agent determines to place an additional bid, said agent selecting an auction to place said additional bid in, and placing said additional bid in said selected auction,

wherein said bidding-related information received from said bidder comprises a specified limit on a total value of each bid in each auction and a total value of all bids from all auctions,

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder surplus of said bid is maximized and non-negative, wherein said current bidder surplus of said bid comprises a monetary value computed from said bid value and said specified limit on the value of the bid, and

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder profitability of said bid is maximized, and non-negative, wherein said current bidder profitability of said bid comprises the ratio of a monetary value computed from said bid value and said specified limit on the value of the bid to said bid value.

9. The method according to claim 8, wherein said bidding-related information received from said bidder further comprises a specified rule for determining at any time, whether said agent, without further recourse to said bidder, should place additional bids and, if so, in which auctions to place said additional bids.

10. A system for dynamically bidding, through a software agent, in online auctions accessible over a communications network, said system comprising:

means for inputting bidding-related information from a bidder;

means for said agent to initially select a plurality of auctions to place bids in, in accordance with said bidding-related information and a current status of one or more auctions;

means for said agent to place bids in said plurality of auctions, wherein said plurality of auctions are located across multiple online auction sites and are scheduled to close for bidding simultaneously;

means for said agent, on being outbid in an auction, and on the basis of said bidding-related information and by checking the current status of one or more auctions, wherein said checking comprises obtaining information relating to a value of a current highest bid in a first auction and using said information in itself determining whether to place an additional bid in said first auction or some other auction and, if said software agent determines to place an additional bid said software agent selecting an auction to place said additional bid in, and placing said additional bid in said selected auction,

wherein said bidding-related information received from said bidder comprises a specified limit on a total value of each bid in each auction and a total value of all bids from all auctions,

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder surplus of said bid is maximized and non-negative, wherein said current bidder surplus of said bid comprises a monetary value computed from said bid value and said specified limit on the value of the bid, and

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder profitability of said bid is maximized, and non-negative, wherein said current bidder profitability of said bid comprises the ratio of a monetary value computed from said bid value and said specified limit on the value of the bid to said bid value.

11. The system according to claim 10, wherein said auctions open for bidding at the same time.

12. The system according to claim 10, wherein said bidding-related information received from said bidder further comprises any of:

a specified list of auctions to which the agent, without further recourse to said bidder, should restrict participation in;

specified limits on the values of bids that can be placed by said agent, without further recourse to said bidder, in various auctions;

a specified limit on the number of simultaneously outstanding bids that said agent, without further recourse to said bidder, can have at any time; and

a specified limit on the sum of values of all simultaneously outstanding bids that said agent, without further recourse to said bidder, can have at any time.

13. The system according to claim 10, wherein said current bidder profitability of said bid is further required to be greater than a bidder-specified minimum limit.

14. The system according to claim 10, wherein:

said auctions are ascending price auctions for selling to bidders;

said specified limits on the values of bids that can be placed by said agent comprise 15 maximum allowable values;

said specified limit on the sum of values of all simultaneously outstanding bids that said agent can have at any time comprises a maximum allowable value; and

said current bidder surplus for a bid is computed by said agent by subtraction of a new computed bid value from the maximum allowable bid value specified by the bidder, for a particular auction.

15. The system according to claim 10, wherein:

said auctions are descending price auctions for purchasing from bidders;

said specified limits on the values of bids that can be placed by said agent comprise minimum allowable values; and

said current bidder surplus for a bid is computed by said agent by subtraction of a minimum allowable bid value specified by the bidder from a new computed bid value, for a particular auction.

16. The system according to claim 10, wherein said bidding-related information received from said bidder further comprises a specified rule for determining at any time, whether said agent, without further recourse to said bidder, should place additional bids and, if so, in which auctions to place said additional bids.

17. A system for conducting online auctions, said system comprising:

computing means for arranging offerings for auction in one or more selected groups located across multiple online auction sites;

computing means for constraining all of said auctions within the same group from the said one or more selected groups to close for bidding simultaneously; and

computing means for soliciting bids in one or more of said auctions by software agents representing bidders, said software agents determining at any time, on the basis of bidding-related information input by a bidder and by checking the current status of one or more auctions, wherein said checking comprises obtaining information relating to a value of a current highest bid in a first auction and using said information in determining whether to place an additional bid in said first auction or some other auction and, if said agent determines to place an additional bid, said agent selecting an auction to place said additional bid in, and placing said additional bid in said selected auction,

wherein said bidding-related information received from said bidder comprises a specified limit on a total value of each bid in each auction and a total value of all bids from all auctions,

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder surplus of said bid is maximized and non-negative, wherein said current bidder surplus of said bid comprises a monetary value computed from said bid value and said specified limit on the value of the bid, and

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder profitability of said bid is maximized, and non-negative, wherein said current bidder profitability of said bid comprises the ratio of a monetary value computed from said bid value and said specified limit on the value of the bid to said bid value.

18. The system according to claim 17, wherein said bidding-related information received from said bidder further comprises a specified rule for determining at any time, whether said agent, without further recourse to said bidder, should place additional bids and, if so, in which auctions to place said additional bids.

19. A computer program product comprising a computer readable medium having a computer program recorded therein for dynamically bidding, through a software agent, in online auctions accessible over a communications network, said computer program including:

computer program code means for said agent initially to receive bidding-related information from a bidder;

computer program code means for said agent to initially select a plurality of auctions to place bids in, in accordance with said bidding-related information and the current status of one or more auctions;

computer program code means for said agent to place bids in said plurality of auctions, wherein said plurality of auctions are located across multiple online auction sites and are scheduled to close for bidding simultaneously; and

computer program code means for said agent, on being outbid in one or more auctions, and on the basis of said bidding-related information and by checking the current status of one or more auctions, wherein said checking comprises obtaining information relating to a value of a current highest bid in a first auction and using said information in itself determining whether to place an additional bid in said first auction or some other auction and, if said software agent determines to place an additional bid, said software agent selecting an auction to place said additional bid in, and placing said additional bid in said selected auction,

wherein said bidding-related information received from said bidder comprises a specified limit on a total value of each bid in each auction and a total value of all bids from all auctions,

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder surplus of said bid is maximized and non-negative, wherein said current bidder surplus of said bid comprises a monetary value computed from said bid value and said specified limit on the value of the bid, and

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder profitability of said bid is maximized, and non-negative, wherein said current bidder profitability of said bid comprises the ratio of a monetary value computed from said bid value and said specified limit on the value of the bid to said bid value.

20. The computer program product according to claim 19, wherein said auctions open for bidding at the same time.

21. The computer program product according to claim 19, wherein said bidding-related information received from said bidder further comprises any of:

a specified list of auctions to which the agent, without further recourse to said bidder, should restrict participation in;

specified limits on the values of bids that can be placed by said agent, without further recourse to said bidder in various auctions;

a specified limit on the number of simultaneously outstanding bids that said agent, without further recourse to said bidder, can have at any time; and

a specified limit on the sum of values of all simultaneously outstanding bids that said agent, without further recourse to said bidder, can have at any time.

22. The computer program product according to claim 19, wherein said current bidder profitability of said bid is further required to be greater than a bidder-specified minimum limit.

23. The computer program according to claim 19, wherein:

said auctions are ascending price auctions for selling to bidders;

said specified limits on the values of bids that can be placed by said agent comprise maximum allowable values;

said specified limit on the sum of values of all simultaneously outstanding bids that said agent can have at any time comprises a maximum allowable value; and

said current bidder surplus for a bid is computer by said agent by subtraction of a new computed bid value from the maximum allowable bid value specified by the bidder, for a particular auction.

24. The computer program according to claim 19, wherein:

said auctions are descending price auctions for purchasing from bidders;

said specified limits on the values of bids that can be placed by said agent comprise minimum allowable values; and

said current bidder surplus for a bid is computed by said agent by subtraction of a minimum allowable bid value specified by the bidder from a new computed bid value, for a particular auction.

25. The computer program product according to claim 19, wherein said bidding-related information received from said bidder further comprises a specified rule for determining at any time, whether said agent, without further recourse to said bidder, should place additional bids and, if so, in which auctions to place said additional bids.

26. A computer program product comprising a computer readable medium having a computer program recorded therein for conducting online auctions, said computer program including:

computer program code means for arranging offerings for auction in one or more selected groups located across multiple online auction sites;

computer program code means for constraining all of said auctions within the same group from said one or more selected groups to close for bidding simultaneously; and

computer program code means for soliciting bids in one or more of said auctions by software agents representing bidders, said software agents determining at any time, on the basis of bidding-related information input by a bidder and by checking the current status of one or more auctions, wherein said checking comprises obtaining information relating to a value of a current highest bid in a first auction and using said information in determining whether to place an additional bid in said first auction or some other auction and, if said agent determines to place an additional bid, said agent selecting an auction to place said additional bid in, and placing said additional bid in said selected auction,

wherein said bidding-related information received from said bidder comprises a specified limit on a total value of each bid in each auction and a total value of all bids from all auctions,

wherein selecting of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder surplus of said bid is maximized and non-negative, wherein said current bidder surplus of said bid comprises a monetary value computed from said bid value and said specified limit on the value of the bid, and

wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder profitability of said bid is maximized, and non-negative, wherein said current bidder profitability of said bid comprises the ratio of a monetary value computed from said bid value and said specified limit on the value of the bid to said bid value.

27. The computer program product according to claim 26, wherein said bidding-related information received from said bidder further comprises a specified rule for determining at any time, whether said agent, without further recourse to said bidder, should place additional bids and, if so, in which auctions to place said additional bids.