Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2007-01-12
2008-12-16
Dass, Harish T (Department: 3692)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S014270, C705S038000, C705S026640, C705S03600T, C283S067000
Reexamination Certificate
active
07467111
ABSTRACT:
The present invention implements an auction in which multiple types of goods may be auctioned in a dynamic process. In a preferred embodiment, the present invention is a system and method for a computer implemented dynamic multi-unit auction in which the price paid or received by bidders tends to be independent of their own bids, in which participants may be provided with information concerning their competitors' bids as the auction progresses, and in which the confidentiality of high values may be maintained. Participants' quantities bid at a given time may be restricted to be less than or equal to the quantities bid at an earlier time. These features provide the advantage of improving economic efficiency of the auction design over the prior art.
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Connolly Bove Lodge and Hutz
Dass Harish T
Efficient Auctions LLC
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