Method and apparatus for on-line prediction of product concept success
First Claim
1. A network entity comprising:
- a processor configured to;
receive a selection of one or more markets in which a user would like to participate in a prediction market;
retrieve information associated with a group of two or more product concepts falling within one of the selected markets, said information comprising a stock price associated with respective product concepts of the group of product concepts;
cause the retrieved information to be displayed;
receive an indication of a number of shares to be purchased by the user in at least one of the product concepts; and
adjust the stock price associated with each product concept in the group of product concepts based at least in part on the number of shares purchased, wherein a sum of the stock prices associated with each of the product concepts in the group of product concepts is constant, such that the stock price of one product concept in the group of product concepts is dependent upon the stock price of the other one or more product concepts in the group of product concepts.
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Accused Products
Abstract
A method, network entity and computer program product are provided for conducting a prediction market to test product concepts. In particular, an interface may be provided from which a user may select one or more markets in which the user would like to participate in a prediction market. Information associated with each of a group of product concepts falling within one of the selected markets, including a stock price, may be retrieved and displayed to the user. The user may indicate a number of shares he or she would like to purchase in at least one of the product concepts, and the stock price associated with each of the product concepts may be adjusted based on the number of shares purchased. A report may be generated and transmitted to a merchant associated with the product concepts being tested, wherein the report may include a volume weighted average price associated with each product concept.
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Citations
19 Claims
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1. A network entity comprising:
- a processor configured to;
receive a selection of one or more markets in which a user would like to participate in a prediction market; retrieve information associated with a group of two or more product concepts falling within one of the selected markets, said information comprising a stock price associated with respective product concepts of the group of product concepts; cause the retrieved information to be displayed; receive an indication of a number of shares to be purchased by the user in at least one of the product concepts; and adjust the stock price associated with each product concept in the group of product concepts based at least in part on the number of shares purchased, wherein a sum of the stock prices associated with each of the product concepts in the group of product concepts is constant, such that the stock price of one product concept in the group of product concepts is dependent upon the stock price of the other one or more product concepts in the group of product concepts. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
- a processor configured to;
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11. A method comprising:
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receiving a selection of one or more markets in which a user would like to participate in a prediction market; retrieving information associated with a group of two or more product concepts falling within one of the selected markets, said information comprising a stock price associated with respective product concepts of the group of product concepts; causing the retrieved information to be displayed; receiving an indication of a number of shares to be purchased by the user in at least one of the product concepts; and adjusting, by a processor, the stock price associated with each product concept in the group of product concepts based at least in part on the number of shares purchased, wherein a sum of the stock prices associated with each of the product concepts in the group of product concepts is constant, such that the stock price of one product concept in the group of product concepts is dependent upon the stock price of the other one or more product concepts in the group of product concepts. - View Dependent Claims (12, 13, 14, 15)
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16. A computer program product comprising at least one computer-readable storage medium having computer-readable program code portions stored therein, wherein the computer-readable program code portions comprise:
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a first executable portion for receiving a selection of one or more markets in which a user would like to participate in a prediction market; a second executable portion for retrieving information associated with a group of two or more product concepts falling within one of the selected markets, said information comprising a stock price associated with respective product concepts of the group of product concepts; a third executable portion for causing the retrieved information to be displayed; a fourth executable portion for receiving an indication of a number of shares to be purchased by the user in at least one of the product concepts; and a fifth executable portion for adjusting the stock price associated with each product concept in the group of product concepts based at least in part on the number of shares purchased, wherein a sum of the stock prices associated with each of the product concepts in the group of product concepts is constant, such that the stock price of one product concept in the group of product concepts is dependent upon the stock price of the other one or more product concepts in the group of product concepts. - View Dependent Claims (17, 18, 19)
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Specification