Method and system for controlling the initiation and duration of overtime interval in electronic auctions
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United States of America Patent
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Sep 7, 2010
Issued Date -
N/A
app pub date -
Oct 11, 2007
filing date -
Sep 18, 1998
priority date (Note) -
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Abstract
Control of overtime in an auction is disclosed. A first time interval, a second time interval, and a first closing time for a first lot are defined. It is determined that at least one new bid for the first lot is received during the first time interval. The new bid is received close to the first closing time. The first closing time is extended using the second time interval if the correlation between the new bid and the at least one other bid satisfies a trigger criterion that is based on a rank of the new bid and the at least one other bid.
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