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Automatic pricing method and device

  • US 20020046128A1
  • Filed: 05/14/2001
  • Published: 04/18/2002
  • Est. Priority Date: 09/07/2000
  • Status: Abandoned Application
First Claim
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1. An automatic pricing method for setting prices of items that are marketed in a web marketing system that performs electronic commerce on a network, comprising steps of:

  • at each point in time, carrying out marketing for fixed time intervals using a price that is one step size higher than, and a price that is one said step size lower than, an optimal price estimate at that time;

    comparing profits obtained as a result of said marketing;

    updating the optimal price estimate at time in question in a direction of price at which greater profit was obtained; and

    repeating said marketing step, said comparison step, and said updating step.

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