System and method for an efficient dynamic multi-unit auction

Details System and method for an efficient dynamic multi-unit auction System and method for an efficient dynamic multi-unit auction

2006-06-13

2006-06-13

Poinvil, Frantzy (Department: 3628)

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

Automated electrical financial or business practice or...

Finance

C705S035000

Reexamination Certificate

active

07062461

ABSTRACT:
A method and apparatus allow the computer based implementation of an auction of heterogeneous types of items wherein one or more types of the items may include plural items. At any point in the bidding process, the set of feasible assignments of the items, given the bidding state, is the set of all possible allocations of the available quantity of the types of items to the bidders, subject to satisfying all the constraints on the assignment of the items, the constraints on the bidding process and the constraints posed by the bidding state. There may be a time in the auction when, based on the bidding state, one or more items (of one or more types) can only be assigned to one particular bidder in any feasible assignment, i.e., the particular bidder is guaranteed to be assigned the item. Such item is assigned to such bidder at such time.

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Little, “Auctioning is the wisest choice is you want best value”, Government Computer News, v15, n28, p54(2), Nov. 4, 1996, Dialog file 148, Accession No. 09137259.

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