System and method for an efficient dynamic multi-unit auction
First Claim
1. A method for using a computer to implement an auction of heterogeneous objects, two or more bidders participating in the auction, the auction allowing assignment of objects of the same type to one or more of the bidders at different prices, the method comprising:
- a) inputting, into the computer, bids from participating bidders,b) determining at the computer, based on the bids, whether there is at least one object which is desired by only one bidder and,c) in the event there is at least one object which is desired by only one bidder, assigning the determined object or objects to the determined bidder,and wherein the determining further comprises;
b11) selecting a bidder,b12) selecting an object type,b13) determining if bids of other bidders for this object type total less than available objects of this type, and in that event the assigning comprises assigning to the selected bidder the smaller of;
the difference between number of available objects of this selected type and sum of bids by other bidders for this object type; and
the selected bidder'"'"'s bid for objects of this selected type.
1 Assignment
0 Petitions
Accused Products
Abstract
A method and apparatus allow the computer based implementation of an auction of heterogeneous types of items wherein one or more types of the items may include plural items. At any point in the bidding process, the set of feasible assignments of the items, given the bidding state, is the set of all possible allocations of the available quantity of the types of items to the bidders, subject to satisfying all the constraints on the assignment of the items, the constraints on the bidding process and the constraints posed by the bidding state. There may be a time in the auction when, based on the bidding state, one or more items (of one or more types) can only be assigned to one particular bidder in any feasible assignment, i.e., the particular bidder is guaranteed to be assigned the item. Such item is assigned to such bidder at such time.
-
Citations
65 Claims
-
1. A method for using a computer to implement an auction of heterogeneous objects, two or more bidders participating in the auction, the auction allowing assignment of objects of the same type to one or more of the bidders at different prices, the method comprising:
-
a) inputting, into the computer, bids from participating bidders, b) determining at the computer, based on the bids, whether there is at least one object which is desired by only one bidder and, c) in the event there is at least one object which is desired by only one bidder, assigning the determined object or objects to the determined bidder, and wherein the determining further comprises; b11) selecting a bidder, b12) selecting an object type, b13) determining if bids of other bidders for this object type total less than available objects of this type, and in that event the assigning comprises assigning to the selected bidder the smaller of;
the difference between number of available objects of this selected type and sum of bids by other bidders for this object type; and
the selected bidder'"'"'s bid for objects of this selected type. - View Dependent Claims (2, 3)
-
-
4. A method for using a computer to implement an auction of hetergeneous objects, two or more bidders participating in the auction, the auction allowing assignment of objects of the same type to one or more of the bidders at different prices, the method comprising:
-
a) inputting, into the computer, bids from participating bidders, b) determining at the computer, based on the bids, whether there is at least one object which is desired by only one bidder and, if so, assigning the determined object or objects to the determined bidder, and c) repeating steps a) and b) until no objects remain unassigned, wherein said determining includes; b1) selecting a bidder, b2) summing, for all other bidders, a first sum representing a quantity of all objects bid for by the other bidders, b3) identifying a quantity of all unassigned objects and determining if the quantity is strictly greater than the first sum, b4) in the event the quantity is strictly greater than the first sum, then assigning objects either based on the selected bidder'"'"'s bid or using a most preferred assignment rule, and b5) repeating steps b2) to b4) for each other bidder.
-
-
5. A method for using a computer to implement an auction of heterogeneous objects, two or more bidders participating in the auction, the auction allowing assignment of objects of the same type to one or more of the bidders at different prices, the method comprising:
-
a) inputting, into the computer, bids from participating bidders, b) determining at the computer, based on the bids, whether there is at least one object which is desired by only one bidder and, if so, assigning the determined object or objects to the determined bidder, and c) repeating steps a) and b) until no objects remain unassigned, which includes the further steps of; d) validating bids by d1) selecting a bidder, d2) comparing a most recent bid by the bidder to an earlier bid of the same bidder, and d3) determining for each object type if a most recent bid carries a quantity less than an earlier bid, d4) in the event the determination of step d3) is positive, determining the sum of all bids for objects of a type that in the event the sum is less than the number available, adjusting the most recent bid, or d5) repeating steps d1)–
d4) for another bidder.
-
-
6. A computer system implementing an auction of heterogeneous objects, two or more bidders participating in the auction, the auction allowing assignment of objects of the same type to one or more of the bidders at different prices, the computer system including:
-
a) means for inputting to the computer, bids from participating bidders, b) determining means for determining, based on the bids, whether there is at least one object which is desired by only one bidder and, c) assigning means for assigning the determined object or objects to the determined bidder in the event there is at least one object which is desired by only one bidder, wherein the determining means includes; b1) means for selecting a bidder, b2) means for summing, for all other bidders, a first sum representing a quantity of all objects bid for by the other bidders, b3) means for identifying a quantity of all unassigned objects and determining if the quantity is strictly greater than the first sum, and wherein the assigning means includes; c1) responsive means, in the event the quantity is strictly greater than the first sum, for assigning objects either based on the selected bidder'"'"'s bid or using a most preferred assignment rule. - View Dependent Claims (7)
-
-
8. A computer system implementing an auction of heterogeneous objects, two or more bidders participating in the auction, the auction allowing assignment of objects of the same type to one or more of the bidders at different prices, the computer system including:
-
a) input means for inputting bids from participating bidders, b) determining means for determining, based on the bids, whether there is at least one object which is desired by only one bidder and, c) assigning means for assigning, in the event there is at least one object which is desired by only one bidder, the determined object or objects to the determined bidder, wherein the determining means includes; b1) means for selecting a bidder, b2) means for selecting an object type, b3) summing means for determining if bids of other bidders for this object type total less than available objects of this type, and wherein the assigning means comprises; c1) responsive means, in the event the bids of other bidders for this object type totals less than the number of available objects of this type, for assigning to the selected bidder the smaller of;
the difference between number of available objects of this selected type and the total of bids by other bidders for this object type; and
the selected bidder'"'"'s bid for objects of this selected type. - View Dependent Claims (9, 10)
-
-
11. A method for using at least one computer to implement an auction of at least two types of items, each of the types of items including plural items, the auction allowing submission of bids on the types of items at a plurality of times, the method comprising:
-
a) transmitting from a computer a signal representing auction information, said auction information including at least an indicator of a current price for each of the types of items; b) receiving bids submitted by a plurality of bidders, each bid indicating at least a quantity of one of the types of items that a bidder wishes to transact at the current price; c) constraining bids at a computer to satisfy a condition that a sum of quantities bid by a bidder for all of the types of items at their current prices is no greater than a sum of quantities previously bid by the bidder for all of the types of items; d) determining at a computer whether the auction should end or continue, based on a comparison of a sum of quantities that bidders wish to transact at the current price and an available quantity of items; e) establishing updated auction information, said auction information including an updated price for at least one of the types of items; and f) initiating at a computer at least one additional opportunity for bidders to submit bids at an updated price following a determination that the auction should continue. - View Dependent Claims (12, 13, 14, 15, 16)
-
-
17. A system comprising at least one computer for implementing an auction of at least two types of items, each of the types of items including plural items, the auction allowing submission of bids on the types of items at a plurality of times, the system comprising:
-
a) transmitting means for transmitting a signal representing auction information, said auction information including at least an indicator of a current price for each of the types of items; b) receiving means for receiving bids submitted by a plurality of bidders, each bid indicating at least a quantity of one of the types of items that a bidder wishes to transact at the current price; c) constraining means for constraining bids to satisfy a condition that a sum of quantities bid by a bidder for all of the types of items at their current prices is no greater than a sum of quantities previously bid by the bidder for all of the types of items; d) first determining means for determining whether the auction should end or continue, based on a comparison of a sum of quantities that bidders wish to transact at the current price and an available quantity of items; e) establishing means for establishing updated auction information, said auction information including an updated price for at least one of the types of items; and f) initiating means for initiating at least one additional opportunity for bidders to submit bids at an updated price following a determination that the auction should continue. - View Dependent Claims (18, 19, 20, 21, 22, 23)
-
-
24. A method for using one or more computers to implement an auction of heterogeneous items, said heterogeneous items including m types of items, m equaling an integer of at least two, a bidder submitting bids in the auction at a plurality of times, the method comprising:
-
a) outputting, from a computer of said one or more computers, prices (P1t, . . . , Pmt), each price Pkt indicating the price of items of a given type k at time t; b) receiving, into a computer of said one or more computers, bids indicating quantities (Q1i,t, . . . , Qmi,t), each quantity Qki,t indicating a quantity of items of a given type k that a bidder i wishes to transact at time t; c) processing, at a computer of said one or more computers, the received bids, said processing including determining whether the quantities (Q1i,t, . . . , Qmi,t) satisfy a constraint that a sum of the quantities Qki,t, summed over all k from 1 to m, is no greater than a sum of the quantities Qki,s, summed over all k from 1 to m, where time s is a time preceding time t; d) determining, at a computer of said one or more computers, whether the auction should continue, based on the processed bids; and e) repeating a)–
d) if the auction is determined to continue. - View Dependent Claims (25, 26, 27, 28, 29, 30)
-
-
31. A system comprising at least one computer for implementing an auction of heterogeneous items, said heterogeneous items including m types of items, m equaling an integer of at least two, a bidder submitting bids in the auction at a plurality of times, the system comprising:
-
a) means for outputting prices (P1t, . . . , Pmt), each price Pkt indicating the price of items of a given type k at time t; b) means for receiving a bid indicating quantities (Q1i,t, . . . , Qmi,t), each quantity Qki,t indicating a quantity of items of a given type k that a bidder i wishes to transact at time t; c) means for processing the received bid, said processing including determining whether the quantities (Q1i,t, . . . , Qmi,t) satisfy a constraint that a sum of the quantities Qki,t, summed over all k from 1 to m, is no greater than a sum of the quantities Qki,s, summed over all k over 1 to m, where time s is a time preceding time t; and d) means for determining whether the auction should continue, based on the processed bids. - View Dependent Claims (32, 33, 34, 35, 36, 37)
-
-
38. A method for using at least one computer to implement an auction of heterogeneous items, said heterogeneous items including m types of items, m equaling an integer of at least two, n bidders submitting bids in the auction, n equaling an integer of at least two, a bidder submitting bids in the auction at a plurality of times, the method comprising:
-
a) outputting, from a computer, prices (P1t, . . . , Pmt), each price Pkt indicating the price of items of a given type k at time t; b) receiving, into a computer, a bid indicating quantities (Q1i,t, . . . , Qmi,t), each quantity Qki,t indicating the quantity of items of a given type k that a bidder i wishes to transact at time t; c) processing, at a computer, the received bid, said processing including determining whether the quantities (Q1i,t, . . . , Qmi,t), together with the quantities (Q1j,t, . . . , Qmj,t) of all other bidders j, satisfy a constraint for every type k of item that a sum of the quantities Qkj,t, summed over all bidders j from 1 to n, is no less than an available quantity; d) determining, at a computer, whether the auction should continue, based on the processed bids; and e) repeating a)–
d) if the auction is determined to continue. - View Dependent Claims (39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51)
-
-
52. A system comprising at least one computer for implementing an auction of heterogeneous items, said heterogeneous items including m types of items, m equaling an integer of at least two, n bidders submitting bids in the auction, n equaling an integer of at least two, a bidder submitting bids in the auction at a plurality of times, the system comprising:
-
a) means for outputting prices (P1t, . . . , Pmt), each price Pkt indicating the price of items of a given type k at time t; b) means for receiving a bid indicating quantities (Q1i,t, . . . , Qmi,t), each quantity Qki,t indicating a quantity of items of a given type k that a bidder i wishes to transact at time t; c) means for processing the received bid, said processing including determining whether the quantities (Q1i,t, . . . , Qmi,t) together with the quantities (Q1j,t, . . . , Qmj,t) of all other bidders j, satisfy a constraint for every type k of item that a sum of the quantities Qkj,t, summed over all bidders j from 1 to n, is no less than an available quantity; and d) means for determining whether the auction should continue, based on the processed bids. - View Dependent Claims (53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65)
-
Specification