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System and method for an efficient dynamic multi-unit auction

  • US 7,062,461 B1
  • Filed: 05/18/2000
  • Issued: 06/13/2006
  • Est. Priority Date: 05/18/1999
  • Status: Expired due to Term
First Claim
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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.

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