Computer-implemented method for determining a bid for an auction
First Claim
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1. A computer-implemented method for determining a bid for an auction, said method comprising:
- receiving, by a computer, a valuation for said auction, a risk preference, and a rate of change of said risk preference;
determining, by the computer, a joint distribution based on historical auction information and at least one updated valuation for an historical auction;
determining, by the computer, a density of said joint distribution; and
determining, by the computer, said bid based on said risk preference, said rate of change of said risk preference, said valuation, said joint distribution, and said density of said joint distribution.
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Abstract
A computer-implemented method for determining a bid for a auction. A valuation for the auction, a risk preference, and a rate of change of the risk preference are received. A joint distribution is determined based on historical auction information and at least one updated valuation for an historical auction. A density of the joint distribution is determined. The bid is determined based on the risk preference, the rate of change of the risk preference, the valuation, the joint distribution, and the density of the joint distribution.
13 Citations
22 Claims
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1. A computer-implemented method for determining a bid for an auction, said method comprising:
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receiving, by a computer, a valuation for said auction, a risk preference, and a rate of change of said risk preference; determining, by the computer, a joint distribution based on historical auction information and at least one updated valuation for an historical auction; determining, by the computer, a density of said joint distribution; and determining, by the computer, said bid based on said risk preference, said rate of change of said risk preference, said valuation, said joint distribution, and said density of said joint distribution. - View Dependent Claims (2, 3, 4, 5, 7, 8)
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6. A computer-implemented method for determining a bid for an auction, said method comprising:
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receiving, by a computer, a valuation for said auction, a risk preference, and a rate of change of said risk preference; determining, by the computer, a joint distribution based on historical auction information and at least one updated valuation for an historical auction; determining, by the computer, a density of said joint distribution; and determining, by the computer, said bid based on said risk preference, said rate of change of said risk preference, said valuation, said joint distribution, and said density of said joint distribution, wherein said bid bi* is determined according to
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9. A non-transitory computer-readable medium having computer-readable program code embodied therein for causing a computer system to perform a method for determining a bid for an auction, said method comprising:
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receiving a valuation for said auction, a risk preference for a bidder, and a rate of change of said risk preference for said bidder; determining a joint distribution based on historical auction information and a plurality of updated valuations for a plurality of historical auctions; determining a density of said joint distribution; and determining said bid based on said risk preference, said rate of change of said risk preference, said valuation, said joint distribution, and said density of said joint distribution. - View Dependent Claims (10, 11, 12, 14, 15, 16)
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13. A non-transitory computer-readable medium having computer-readable program code embodied therein for causing a computer system to perform a method for determining a bid for an auction, said method comprising:
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receiving a valuation for said auction, a risk preference for a bidder, and a rate of change of said risk preference for said bidder; determining a joint distribution based on historical auction information and a plurality of updated valuations for a plurality of historical auctions; determining a density of said joint distribution; and determining said bid based on said risk preference, said rate of change of said risk preference, said valuation, said joint distribution, and said density of said joint distribution, wherein said bid bi* is determined according to
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17. A computer-implemented method for determining risk preference associated with a bid, said method comprising:
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receiving, by a computer, a valuation for said auction and a bid for said auction; determining, by the computer, a joint distribution based on historical auction information and at least one updated valuation for an historical auction; determining, by the computer, a density of said joint distribution; and determining, by the computer, said risk preference based on said valuation, said bid, said joint distribution, and said density of said joint distribution. - View Dependent Claims (18, 19, 20, 21)
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22. A computer-implemented method for determining risk preference associated with a bid, said method comprising:
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receiving, by a computer, a valuation for said auction and a bid for said auction; determining, by the computer, a joint distribution based on historical auction information and at least one updated valuation for an historical auction; determining, by the computer, a density of said joint distribution; and determining, by the computer, said risk preference based on said valuation, said bid, said joint distribution, and said density of said joint distribution, wherein said risk preference ui is determined according to
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Specification