Computer auction system

Details Computer auction system Computer auction system

1996-08-26

1999-03-30

MacDonald, Allen R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Electronic shopping

705 1, 705 27, 705 37, G06F 1760, G06F 314, G06F 738

Patent

active

058901388

ABSTRACT:
An auction system is disclosed which allows users to participate using their own computers suitably connected to the auction system. Preferably, this connection uses INTERNET. The invention involves a method and system for providing rapid feedback of a reverse auction process and removes the user from the process once an indication to purchase has been received. Rapid feedback in combination with security of information is achieved with the method and auction system.

REFERENCES:
patent: 3581072 (1971-05-01), Nymeyer
patent: 4789928 (1988-12-01), Fujisaki
patent: 5553145 (1996-09-01), Micali
patent: 5629982 (1997-05-01), Micali
patent: 5640569 (1997-06-01), Miller et al.
Rockoff, T.E., Groves, M.; "Design of an Internet-based System for Remote Dutch Auctions", Internet Research, v 5, n 4, pp. 10-16, MCB University Press, Jan. 01, 1995.

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