Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Electronic shopping
Reexamination Certificate
2003-10-08
2008-08-05
Garg, Yogesh C. (Department: 3625)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Electronic shopping
C705S001100, C705S037000
Reexamination Certificate
active
07409360
ABSTRACT:
A system for conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services includes a web server for receiving bid data for one or more users for basic generation service products, an application server host application software, which processes the one or more bids according to at least one auction rule, tracks the auction, monitors the auction, and/or determines when to end the auction, and a database server, which stores auction data. A method of conducting a computer-based, simultaneous, multiple round, descending clock auction for basic generation services includes the repeating steps of receiving bids indicating desired tranche units of basic generation service products, calculating next round prices for each product, and sending round results to bidders. The subsequent round price for each of the products and a notice of the number of tranches bid during the immediately previous round of bidding for each of the products and/or the amount of excess supply offered. When the number of tranches bid for the round of bidding are equal to or less than the certain threshold for each of the products such that no further bidding can take place under the auction rules, the auction ends after the round of bidding and awarding winning bidders an ending price for each of the at least one of the plurality of products won by the winning bidders.
REFERENCES:
patent: 4789928 (1988-12-01), Fujisaki
patent: 4903201 (1990-02-01), Wagner
patent: 4980826 (1990-12-01), Wagner
patent: 5003473 (1991-03-01), Richards
patent: 5077665 (1991-12-01), Silverman et al.
patent: 5101353 (1992-03-01), Lupien et al.
patent: 5227967 (1993-07-01), Bailey
patent: 5230048 (1993-07-01), Moy
patent: 5231571 (1993-07-01), D'Agostino
patent: 5270922 (1993-12-01), Higgins
patent: 5375055 (1994-12-01), Togher et al.
patent: 5497317 (1996-03-01), Hawkins et al.
patent: 5640569 (1997-06-01), Miller et al.
patent: 5774880 (1998-06-01), Ginsberg
patent: 5794207 (1998-08-01), Walker et al.
patent: 5794219 (1998-08-01), Brown
patent: 5797127 (1998-08-01), Walker et al.
patent: 5802501 (1998-09-01), Graff
patent: 5803500 (1998-09-01), Mossberg
patent: 5809483 (1998-09-01), Broka et al.
patent: 5835896 (1998-11-01), Fisher et al.
patent: 5845265 (1998-12-01), Woolston
patent: 5845266 (1998-12-01), Lupien et al.
patent: 5857176 (1999-01-01), Ginsberg
patent: 5890138 (1999-03-01), Godin et al.
patent: 5905974 (1999-05-01), Fraser et al.
patent: 5905975 (1999-05-01), Ausubel
patent: 5915209 (1999-06-01), Lawrence
patent: 6012045 (2000-01-01), Barzilai et al.
patent: 6021398 (2000-02-01), Ausubel
patent: 6023685 (2000-02-01), Brett et al.
patent: 6026383 (2000-02-01), Ausubel
patent: 6029146 (2000-02-01), Hawkins et al.
patent: 6047274 (2000-04-01), Johnson et al.
patent: 6085176 (2000-07-01), Woolston
patent: 6161099 (2000-12-01), Harrington et al.
patent: 6192347 (2001-02-01), Graff
patent: 6202051 (2001-03-01), Woolston
patent: 6243691 (2001-06-01), Fisher et al.
patent: 6415270 (2002-07-01), Rackson et al.
patent: 6449601 (2002-09-01), Friedland et al.
patent: 6510418 (2003-01-01), Case et al.
patent: 6598029 (2003-07-01), Johnson et al.
patent: 6718312 (2004-04-01), McAfee et al.
patent: 2002/0052828 (2002-05-01), Ausubel
patent: WO-98/34187 (1998-08-01), None
patent: WO 02/097582 (2002-12-01), None
Press release “Aug. 27, 2001—Statewide Auction of NJ Basic Generation Service (BGS) Load—Notice of Three Upcoming Bidder Information Sessions” extracted from www.bgs-auction.com web site.
Web pages of from web site www.bgs-auction.com , dated Sep. 9, and 28, 2001; captured via the WayBackMachine.
Press release “New Jersey Utilities Set To Launch Major 18000-MW Power Solicitation”; McGraw-Hill's Power Markets Week; New York; Jul. 16, 2001, extracted from Proquest electronic database proquest.umi.com on Aug. 2, 2007.
Press release, “Meetings Set For 18,000-MW N.J. RFP”, McGraw-Hill's Power Markets Week; New York; Sep. 3, 2001 extracted from Proquest electronic database proquest.umi.com on Aug. 2, 2007.
Web pages from website www.bgs-auction.com dated Oct. 10, 2001, Dec. 10, 2001, Feb. 5, 2002, Feb. 15, 2002 and Jun. 1, 2002.
Ausubel, L.: “Insider Trading in a Rational Expectations Economy,” The American Economic Review, Dec. 1990; pp. 1022-1041.
Ausubel, L.: “An Efficient Ascending-Bid Auction for Multiple Objects,” University of Maryland, Dept. of Economics, Aug. 7, 2002.
Ausubel, L.: “An Efficient Dynamic Auction for Heterogeneous Commodities,” Univ. of Maryland, Dept. of Economics, Jul. 17, 2002.
Ausubel, L.: “An Efficient Ascending-Bid Auction for Dissimiliar Objects,” Univ. of Maryland, Dept. of Economics, Jan. 4, 1996.
Ausubel, L.: “On Generalizing the English Auction,” Univ. of Maryland, Dept. of Economics, Dec. 31, 1997.
Ausubel, L. et al.: “Synergies in Wireless Telephony: Evidence from the Broadband PCS Auctions,” Journal of Economics and Management Strategy, 6:3, 497-527, 1997.
Ausubel, L. et al.: “Vickery Auctions with Reserve Pricing,” Univ. of Maryland, Dept. of Economics, Jun. 28, 1999.
Ausubel, L. et al.: “The Ascending Auction Paradox,” Univ. of Maryland, Dept. of Economics, Jul. 5, 1999.
Ausubel, L. et al.: “The Optimality of Being Efficient,” Univ. of Maryland, Dept. of Economics, Jun. 18, 1999.
Ausubel, L. et al.: “Auctioning Securities” Univ. of Maryland, Dept. of Economics, Mar. 1998.
Ausubel, L. et al.: “Demand Reduction and Inefficiency in Multi-Unit Auctions,” Univ. of Maryland, Dept. of Economics, Jul. 12, 2002.
Ausubel, L.: “Put corruption under the hammer,” Financial Times, Dec. 20, 2002.
Ausubel, L. et al.: “Demand Reduction and Inefficiency in Multi-Unit Auctions,” Univ. of Maryland, Dept. of Economics, Mar. 20, 1998.
Ausubel, L.: “An Efficiency Ascending-Bid Auction for Multiple Objects,” University of Maryland, Dept. of Economics, Working Paper No. 97-08, Jun. 25, 1997.
Bernard, J.C.: “Alternative Auctions Institutions for Purchasing Electric Power: An Experiment Examination,” Bulk Power System Dynamics and Control IV—Restructuring, Aug. 24-28, Santorini, Greece.
Zimmerman, R.D.: “Energy Auctions and Market Power: An Experimental Examination,” Published in Proceedings of the Hawaii International Conference On System Science, Jan. 5-8, 1999, Maui, Hawaii.
Gribik, P.: “27 Learning from California's QF Auction,” Fortnightly vol. 133, No. 8, Apr. 15, 1995.
Ausubel, L.: “Generalized Vickery Auction,” Univ. of Maryland, Dept. of Economics, Sep. 1999.
Underwood, C.: “A Multiple Round Ascending Auction Process Suitable for the Disposal of Radio Spectrum in New Zealand,” Senior Advisor Radio Spectrum Policy, Jan. 17, 1996.
Ethier, R. et al.: “Auction Design for Competitive Electricity Markets,” presented at the HICSS Conference, Jan. 7-10, 1997, Maui, HI.
Ausubel, L. et al.: “An Efficient Dynamic Auction for Heterogeneous Commodities,” Univ. of Maryland, Dept. of Economics, Sep. 8, 2000.
Ausubel, L. et al.: “Ascending Auctions with Package Bidding,” Frontiers of Theoretical Economics, vol. 1, Issue 1, 2002.
“Report 1B: Package Bidding for Spectrum Licenses,” Submitted to Federal Commincations Commission, Submitted by Charles River Associates Incorporated and Market Design, Inc.
Wolfram, C.D.: “Strategic Binding in a Multi-Unit Auction: An Emprical Analysis of Bids to Supply Electricity in England and Wales,” NBER Working Paper Series, Working Paper 6269, National Bureau of Economic Research, Nov. 1997.
Cramton, Peter C.: “Money Out of Thin Air: The Nationwide Narrowband PCS Auction,” Journal of Economics & Management Technology, vol. 4, No. 2, Summer 1995, 267-343.
McAfee, R.P. et al.: “Analyzing the Airwave Auction,” Journal of Ec
LaCasse Chantale
Lark Frederick W.
Loxley Colin J.
Meehan Eugene
Robinson Anthony R.
Atlantic City Electric Company
Donner Irah H.
Garg Yogesh C.
Jersey Central Power & Light Company
Public Service Electric & Gas Company
LandOfFree
Method and system for computer-based auctioning of basic... does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Method and system for computer-based auctioning of basic..., we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Method and system for computer-based auctioning of basic... will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-4006461