Demand estimation using auction price analysis
First Claim
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1. A computer-based method for generating a demand estimate for a product, comprising:
- removing from a set of auction data all but a highest bid from each unique bidder in the auction data;
determining the demand estimate by correcting a bias in the auction data caused by a set of characteristics of an auction from which the auction data is obtained using a computer-based mechanism such that the demand estimate provides an estimate of a likelihood that a consumer will purchase the product.
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Abstract
A method for generating a demand estimate for a product includes gathering a set of auction data which is relevant to the product, removing from the auction data all but a highest bid from each unique bidder in the auction data, and correcting a bias in the auction data caused by a set of characteristics of an auction from which the auction data is obtained. In one embodiment, the auction data is obtained from an on-line auction which is characterized by bidders not necessarily knowing the start time of the auction.
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Citations
20 Claims
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1. A computer-based method for generating a demand estimate for a product, comprising:
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removing from a set of auction data all but a highest bid from each unique bidder in the auction data; determining the demand estimate by correcting a bias in the auction data caused by a set of characteristics of an auction from which the auction data is obtained using a computer-based mechanism such that the demand estimate provides an estimate of a likelihood that a consumer will purchase the product. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for generating a demand estimate for a product, comprising:
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a set of auction data including a set of bids for the product; price analyzer that determines an estimate of a likelihood that a consumer will purchase the product by removing from the auction data all but a highest bid from each unique bidder in the auction data and correcting a bias in the auction data caused by a set of characteristics of an auction from which the auction data is obtained. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A method for generating a demand estimate for a product, comprising:
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gathering a set of auction data that pertains to the product from an auction web site using a web client; removing from the auction data all but a highest bid from each unique bidder in the auction data; determining an estimate of a likelihood that a consumer will purchase the product by correcting a bias in the auction data caused by a set of characteristics of an auction corresponding to the auction data. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification