Allotting an award volume in an auction
First Claim
Patent Images
1. A method, comprising:
- determining, prior to conducting an auction, a maximum and minimum volume to be awarded, from a total volume, to a leading successful bidder in the auction;
conducting the auction using a processor; and
after the auction has been conducted, awarding to the highest ranked bidder in the auction an amount equal to the minimum volume and an additional volume, up to the maximum volume, based on a factor that is related to a difference between a first ranked bid and a second ranked bid; and
awarding to a second ranked bidder a portion of the total volume.
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Abstract
A method of allocating an award in an auction wherein an award for a given auction round is allocated amongst a plurality of highest ranked bidders is disclosed. The method allocates the award between at least the first and second bidders. The method includes conducting the auction and allocating the award between at least the first and second bidders in accordance with the rank of the bidders and a predetermined divisional arrangement. A system, an apparatus, and a bidding device that perform the method are also disclosed.
78 Citations
26 Claims
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1. A method, comprising:
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determining, prior to conducting an auction, a maximum and minimum volume to be awarded, from a total volume, to a leading successful bidder in the auction; conducting the auction using a processor; and after the auction has been conducted, awarding to the highest ranked bidder in the auction an amount equal to the minimum volume and an additional volume, up to the maximum volume, based on a factor that is related to a difference between a first ranked bid and a second ranked bid; and awarding to a second ranked bidder a portion of the total volume. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
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23. A system, comprising:
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a sponsor processor configured to communicate with a first bidder processor and a second bidder processor; a memory coupled with the processor and configured to store instructions which, when executed by said processor, cause said processor to; determine, prior to conducting an auction, a maximum and minimum volume to be awarded, from a total volume, to a leading successful bidder in an auction; conduct the auction; and after the auction has been conducted, award to the highest ranked bidder in the auction an amount equal to the minimum volume and an additional volume, up to the maximum volume, based on a factor that is related to a difference between a first ranked bid and a second ranked bid; and award to the second ranked bidder a portion of the total volume. - View Dependent Claims (24, 25)
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26. A computer readable storage medium having stored thereon instructions, wherein the instructions, when executed by a processor, cause the processor to:
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determine, prior to conducting an auction, a maximum and minimum volume to be awarded, from a total volume, to a leading successful bidder in the auction; conduct the auction; and
after the auction has been conducted, award to the highest ranked bidder in the auction an amount equal to the minimum volume and an additional volume, up to the maximum volume, based on a factor that is related to a difference between a first ranked bid and a second ranked bid; andaward to the second ranked bidder a portion of the total volume.
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Specification