Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2001-07-10
2009-02-17
Dixon, Thomas A. (Department: 3694)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000
Reexamination Certificate
active
07493280
ABSTRACT:
One embodiment of the present invention provides a method and system that computes the optimal level of the reserve price for an auction, with respect to a multiplicity of possible evaluation criteria that the end user of the system may specify. In one embodiment, structural elements characterizing the auction situation are estimated from bid data available on past auctions. The estimated structural elements are then used in the formulation of the user's expected payoff as a function of the reserve price. This objective function is then optimized to obtain the best level of the reserve price. In one embodiment, this method is implemented by a process executed on a computer system, under the control of software and firmware directing the operation of its processors and components. In one embodiment, a computer readable medium causes a computer system to execute the steps in a process for implementing the method.
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patent: 6415270 (2002-07-01), Rackson et al.
patent: 6871190 (2005-03-01), Seymour et al.
patent: 1085445 (2001-03-01), None
Bulow et al (The Journal of political economy, vol. 97, No. 5. (Oct. 1989), pp. 1060-1090).
Chen Kay-Yut
Guler Kemal
Liu Tongwei
Safai Fereydoon
Tang Hsiu-Khuern
Dixon Thomas A.
Hewlett--Packard Development Company, L.P.
Oyebisi Ojo O.
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