Distributed bid processing method for open-cry and...

Details Distributed bid processing method for open-cry and... Distributed bid processing method for open-cry and...

2007-07-31

2007-07-31

Trammell, James (Department: 3693)

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

Automated electrical financial or business practice or...

Finance

C705S03600T

Reexamination Certificate

active

09505509

ABSTRACT:
A distributed bid processing method uses a number of computers to process bids for a given open-cry auction or descending price auction in a distributed manner. The computers examine a set of bids and quickly filter out the losing bids. This helps in achieving faster processing and reduces response times. Two methods are developed for open-cry auctions and one for descending price auction. The methods apply to a distributed web server where some servers may be placed far apart geographically.

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M. Kumar, et al., “Internet Auctions”, http//www.mkumar@watosn.im. com 1998.
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W. Vickrey, “Conterspeculation, Auctions, and Competitive Sealed Tenders”, The Journal of Finance, Mar. 1961, pp. 8-37.

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