Demand estimation using auction price analysis
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United States of America Patent
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Jul 11, 2006
Grant Date -
Oct 31, 2002
app pub date -
Mar 21, 2001
filing date -
Mar 21, 2001
priority date (Note) -
Expired
status (Latency Note)
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Abstract
A method for generating a demand estimate for a product includes gathering a set of auction data which is relevant to the product, removing from the auction data all but a highest bid from each unique bidder in the auction data, and correcting a bias in the auction data caused by a set of characteristics of an auction from which the auction data is obtained. In one embodiment, the auction data is obtained from an on-line auction which is characterized by bidders not necessarily knowing the start time of the auction.
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