Systems and methods that facilitate maximizing revenue for...

Details Systems and methods that facilitate maximizing revenue for... Systems and methods that facilitate maximizing revenue for...

2005-04-15

2009-12-22

Cheung, Mary (Department: 3694)

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

Automated electrical financial or business practice or...

Finance

Reexamination Certificate

active

07636678

ABSTRACT:
The subject invention relates to systems and methods that provide a truthful incentive-compatible mechanism for budget-constrained bidders in order to facilitate asymptotically maximizing revenue with multi-unit auctions in which individual bidders have private valuation per item (e.g., bids, offer prices, utility . . . ) and overall budgets. The systems and/or methods obtain bidder private bids and budget constraint, and separate this information into groups of bids and budgets. Each group is randomly reordered and utilized to determine a profit maximizing price as a function of the bids and budgets within that group. The groups of bids and budgets and the profit maximizing prices are utilized to allocate the auctioned items to respective bidders such that the allocation is based at least in part on the bids, budgets and prices. The systems and methods can be utilized to improve online auctioning.

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