System and method for a hybrid clock and proxy auction
First Claim
1. A method implemented in a system, said system comprising a first computer and at least one other computer which is located remotely from the first computer and interconnected by a communication system, said method for conducting an auction of a plurality of items wherein at least the first computer receives bids and determines an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase, the later phase comprising a package auction, the method comprising:
- a) implementing the dynamic auction phase on said first computer, said dynamic auction phase comprising;
a1) receiving bids at the first computer from at least one bidder using the at least one other computer, said bids including at least an indicator of at least one of the items;
a2) determining whether the dynamic auction phase of the auction should continue, based on received bids;
a3) outputting auction information; and
a4) repeating a1)-a3) if the dynamic auction phase of the auction is determined to continue;
b) changing from the dynamic auction phase to the later phase, following a determination not to continue the dynamic auction phase; and
c) implementing the later phase of the auction on said first computer, the later phase comprising a package auction, said later phase comprising;
c1) receiving bids at the first computer from at least one bidder using the at least one other computer, said bids including at least an indicator of a package of items and an associated price for the package; and
c2) determining an allocation of at least one of the items to one of the bidders based on received bids.
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Accused Products
Abstract
The present invention primarily concerns hybrid auctions that may, for example, combine a clock auction with a proxy auction. Hybrid auctions include multi-item auctions that comprise at least two phases of package auctions: an earlier phase in which bidders participate in a clock auction (or other dynamic auction); and a later phase in which bidders participate in a proxy auction (or some other package auction). By combining the earlier phase and the later phase as in some of the embodiments described herein, it is possible to combine the advantages of the dynamic auction and the advantages of the sealed-bid package auction. In particular, if the earlier phase is a clock auction and the later phase is a proxy auction, then the resulting hybrid auction will combine the transparency and simplicity of the clock auction with the efficient outcome and competitive revenues of the proxy auction.
32 Citations
80 Claims
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1. A method implemented in a system, said system comprising a first computer and at least one other computer which is located remotely from the first computer and interconnected by a communication system, said method for conducting an auction of a plurality of items wherein at least the first computer receives bids and determines an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase, the later phase comprising a package auction, the method comprising:
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a) implementing the dynamic auction phase on said first computer, said dynamic auction phase comprising; a1) receiving bids at the first computer from at least one bidder using the at least one other computer, said bids including at least an indicator of at least one of the items; a2) determining whether the dynamic auction phase of the auction should continue, based on received bids; a3) outputting auction information; and a4) repeating a1)-a3) if the dynamic auction phase of the auction is determined to continue; b) changing from the dynamic auction phase to the later phase, following a determination not to continue the dynamic auction phase; and c) implementing the later phase of the auction on said first computer, the later phase comprising a package auction, said later phase comprising; c1) receiving bids at the first computer from at least one bidder using the at least one other computer, said bids including at least an indicator of a package of items and an associated price for the package; and c2) determining an allocation of at least one of the items to one of the bidders based on received bids. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37)
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38. A computer implemented system for conducting an auction of a plurality of items wherein at least one computer receives bids and determines an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase, the later phase comprising a package auction, the system comprising:
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a) means for implementing the dynamic auction phase on a computer, said means for implementing the dynamic auction phase comprising; a1 ) means for receiving bids from at least one bidder, said bids including at least an indicator of at least one of the items; a2) means for determining whether the dynamic auction phase of the auction should continue, based on received bids; a3) means for outputting auction information; and a4) means for repeating a1)-a3) if the dynamic auction phase of the auction is determined to continue; b) means for changing from the dynamic auction phase to the later phase, following a determination not to continue the dynamic auction phase; and c) means for implementing the later phase of the auction on a computer, the later phase comprising a package auction, said means for implementing said later phase comprising; c1) means for receiving bids from at least one bidder, said bids including at least an indicator of a package of items and an associated price for the package; and c2) means for determining an allocation of at least one of the items to one of the bidders based on received bids. - View Dependent Claims (39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74)
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75. A computer system for determining an allocation of items and payments among a plurality of bidders wherein bids are received at the system and the allocation of the items and the payments are determined by the system based on the received bids, comprising:
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means for receiving bids, including package bids for at least two of the items, and means for processing the received bids to determine an outcome including an allocation of the items among the bidders and payments associated with the bidders, wherein the determined outcome is a core outcome with respect to the received bids, said core outcome having an implied profit allocation that is feasible for the coalition of the whole and unblocked by any coalition. - View Dependent Claims (76)
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77. A method for determining an allocation of items and payments among a plurality of bidders, said method implemented in a system comprising a first computer and at least one other computer which is located remotely from the first computer and interconnected by a communication system, wherein bids are received using the at least one other computer and the allocation of the items and the payments are determined by the first computer based on the received bids, comprising:
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receiving bids, including package bids for at least two of the items, using the at least one other computer, communicating the received bids to the first computer, and processing the received bids using the first computer to determine an outcome including an allocation of the items among the bidders and payments associated with the bidders, wherein the determined outcome is a core outcome with respect to the received bids, said core outcome having an implied profit allocation that is feasible for the coalition of the whole and unblocked by any coalition. - View Dependent Claims (78)
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79. A computer readable medium storing a sequence of instructions which, when executed by a computer system implements a program for determining an allocation of items and payments among a plurality of bidders wherein bids are received at the computer system and the allocation of the items and the payments are determined by the system based on the received bids, comprising:
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receiving bids, including package bids for at least two of the items, and processing the received bids to determine a core outcome with respect to the received bids, said core outcome including an allocation of the items among the bidders and payments associated with the bidders, whose implied profit outcome is feasible for the coalition of the whole and unblocked by any coalition. - View Dependent Claims (80)
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Specification