System and method for providing a payment to a non-winning auction participant
First Claim
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1. An auction method, comprising:
- defining a set of rules defining a payment to be made as an incentive for at least one actual or potential auction participant to compete in an auction for a right, the payment being dependent on at least one intermediate state in the auction associated with an incentivized activity of the at least one actual or potential auction participant;
conducting the auction; and
determining the incentive payment by an automated computing device made to the at least one actual or potential auction participant based on at least the intermediate state, wherein at least one bidder or offeror which is non-winning in the auction for the right is determined to receive the payment.
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Abstract
A system and method providing for communication and resolution of utility functions between participants, wherein the utility function is evaluated based on local information at the recipient to determine a cost value thereof. A user interface having express representation of both information elements, and associated reliability of the information. An automated system for optimally conveying information based on relevance and reliability.
1297 Citations
25 Claims
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1. An auction method, comprising:
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defining a set of rules defining a payment to be made as an incentive for at least one actual or potential auction participant to compete in an auction for a right, the payment being dependent on at least one intermediate state in the auction associated with an incentivized activity of the at least one actual or potential auction participant; conducting the auction; and determining the incentive payment by an automated computing device made to the at least one actual or potential auction participant based on at least the intermediate state, wherein at least one bidder or offeror which is non-winning in the auction for the right is determined to receive the payment. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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20. An auction system defining a payment as an incentive for at least one actual or potential auction participant to compete in an auction, the payment being distinct from a winning auction payment, dependent on at least one intermediate state in the auction, and made to the at least one actual or potential auction participant which is losing in the auction, comprising:
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an automated auction server configured to receive a set of bids or offers from auction participants, having at least one processor configured to automatically determine an amount of the payment and the recipient of the payment from among the actual or potential auction participants which are losing in the auction, based on at least the at least one intermediate state represented by the received set of bids or offers; and an output port configured to communicate the amount of the payment and the recipient of the payment.
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21. A machine readable medium storing instructions for a controlling a programmable machine to execute an auction participation incentive method which defines a payment as an incentive for auction participants to compete in an auction, the payment being dependent on at least one losing bid or offer and made to at least one losing bidder or offeror defining an intermediate state in the auction, comprising:
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receiving data representing at least one intermediate state of the auction; determining, using at least one automated processor, the payment upon conclusion of the auction wherein at least one winning bidder or offeror and at least one winning price is defined, based on at least the at least one intermediate state; and communicating an identifier of the at least one losing bidder or offeror to receive the payment and an amount of the payment to be made to the at least one losing bidder or offeror.
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22. An auction method, comprising:
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defining an incentive payment function to economically incentivize at least one bidder to compete in an ascending price auction, the incentive payment function being dependent on at least one intermediate bid made by the bidder before a winning auction price is determined; automatically determining an allocation of the winning auction price paid by a winning bidder that placed a highest bid to an offeror, as an offeror payment and the incentive payment made to at least one losing bidder, based on at least the incentive payment function, at least the intermediate bid, and the winning auction price; and communicating the amount and losing bidder recipient of the incentive payment.
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23. An auction method, comprising:
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defining an incentive payment function to economically incentivize at least one offeror to compete in an auction to supply at least one resource, the incentive payment function being dependent on at least one intermediate offer before a final auction price is determined; automatically determining using at least one automated processor, the incentive payment to losing offerors, based on at least the incentive payment function and the intermediate offer; and communicating the amount and recipient of the incentive payment.
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24. An auction method, comprising:
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defining at least one incentive payment as an incentive for participants to compete in an auction, the incentive payment being quantitatively dependent on at least one action taken by a participant during the auction prior to conclusion of the auction; and automatically determining, using at least one automated processor, an amount and recipient of the at least one incentive payment based on at least the at least one action taken by a respective participant during the auction, wherein the identified recipient is a losing participant in the auction. - View Dependent Claims (25)
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Specification