Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2006-11-07
2006-11-07
Patel, Jagdish N (Department: 3624)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S026640, C705S027200
Reexamination Certificate
active
07133841
ABSTRACT:
A method and computer system for conducting a progressive, price-driven combinatorial auction wherein equilibrium prices supporting optimal allocation are provided. The auction mechanism allows bids on bundles and uses an innovative price setting mechanism that ensures that the bundle prices reported by the auction have the property that each participant's or bidder's tentative allocation maximizes the value reported in the participant's bid. The auction is progressive, and requires that a participant's new bid improves his previous bid in a precisely defined manner. The auction terminates when no participant submits a new bid, or according to some other specified criterion.
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Wellman Michael P.
Wurman Peter R.
Brooks & Kushman P.C.
Patel Jagdish N
The Regents of the University of Michigan
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