Method and system for dynamically controlling overtime in electronic auctions
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United States of America Patent
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app pub date -
Oct 30, 2007
filing date -
Sep 18, 1998
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A first lot and a second lot are presented to a plurality of bidders in a multi-lot electronic auction between an originator and the plurality of bidders. A closing time of the first lot precedes a closing time of the second lot. Bids are received from the plurality of bidders for the first lot. A closing time of the first lot is extended by an incremental amount of time upon an occurrence of an overtime trigger. If the difference in time between the extended closing time of the first lot precedes a closing time of the second lot by less than a minimum time interval, the closing time of the second lot is extended by the incremental amount of time.
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