Method and system for correcting market failures with participant isolation in dutch style online auctions
First Claim
1. A computer-implemented method in an auction between a plurality of potential bidders, comprising:
- generating a sequence of values;
creating a buyer view of the auction that includes a first value included in the sequence of generated values;
prior to displaying a price to a first potential bidder, using a processor to transform, using a characteristic associated with a quality of an auction item, said first value into a first bidder comparative bid parameter value;
creating a first bidder view of the auction, for display to said first potential bidder, that includes the first bidder comparative bid parameter value;
prior to displaying a price to a second potential bidder, using a processor to transform said first value into a second bidder comparative bid parameter value; and
creating a second bidder view of the auction, for display to said second potential bidder, that includes the second bidder comparative bid parameter value.
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Accused Products
Abstract
A method and system for conducting online auctions in a Dutch format is disclosed. Isolation of bidders in the online Dutch auction is exploited by creating unique views into the Dutch auction. In one embodiment, posted prices are originally defined in the context of the originator of the auction. These posted prices are transformed into the individual contexts of potential bidders prior to display at the bidder computer system. Multiple views into the Dutch auction are thereby supported. In another embodiment, feedback formats are specified for one or more of the potential bidders. The specified feedback formats enable the originator of the auction to control the types of market clearing information that will be withheld from the various potential bidders.
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Citations
15 Claims
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1. A computer-implemented method in an auction between a plurality of potential bidders, comprising:
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generating a sequence of values; creating a buyer view of the auction that includes a first value included in the sequence of generated values; prior to displaying a price to a first potential bidder, using a processor to transform, using a characteristic associated with a quality of an auction item, said first value into a first bidder comparative bid parameter value; creating a first bidder view of the auction, for display to said first potential bidder, that includes the first bidder comparative bid parameter value; prior to displaying a price to a second potential bidder, using a processor to transform said first value into a second bidder comparative bid parameter value; and creating a second bidder view of the auction, for display to said second potential bidder, that includes the second bidder comparative bid parameter value. - View Dependent Claims (2, 3, 4, 5)
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6. A machine readable medium having stored thereon executable code which causes a machine to perform a method to conduct an auction between a plurality of bidders, said method comprising:
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generating a sequence of values; creating a buyer view of the auction that includes a first value included in the sequence of generated values; prior to displaying a price to a first potential bidder, transforming, using a characteristic associated with a quality of an auction item, said first value into a first bidder comparative bid parameter value; creating a first bidder view of the auction, for display to a first potential bidder, that includes the first bidder comparative bid parameter value; prior to displaying a price to a second potential bidder, transforming said first value into a second bidder comparative bid parameter value; and creating a second bidder view of the auction, for display to said second potential bidder, that includes the second bidder comparative bid parameter value. - View Dependent Claims (7, 8, 9, 10)
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11. A system for conducting an auction between a plurality of bidders, comprising:
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a processor; and a memory coupled with the processor, wherein the memory is configured to provide the processor with instructions which when executed cause the processor to; generate a sequence of values; create a buyer view of the auction that includes a first value included in the sequence of generated values; prior to displaying a price to a first potential bidder, transform, using a characteristic associated with a quality of an auction item, said first value into a first bidder comparative bid parameter value; create a first bidder view of the auction, for display to a first potential bidder, that includes the first bidder comparative bid parameter value; prior to displaying a price to a second potential bidder, transform said first value into a second bidder comparative bid parameter value; and create a second bidder view of the auction, for display to said second potential bidder, that includes the second bidder comparative bid parameter value. - View Dependent Claims (12, 13, 14, 15)
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Specification