Method and apparatus for automating negotiations between parties

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United States of America Patent

PATENT NO 6112189
SERIAL NO

08820788

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ATTORNEY / AGENT: (SPONSORED)

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Abstract

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A system calculates the mutual satisfaction between negotiating parties and maximizes their mutual satisfaction over a range of decision variables and does so without requiring the parties to identify themselves and their positions to each other. For automatically negotiating agreements between multiple parties, a computer accepts a satisfaction function from an offering party who defines his degree of satisfaction to agree to a range of terms upon which the party is desirous of negotiating as a function of the relevant decision variables. The computer then accepts input from all other parties regarding their degree of satisfaction to agree to each of the terms as a function of a particular relevant decision variable. The computer then calculates a satisfaction function for each of these terms based on all of the individual inputs. Next, the computer calculates a joint satisfaction function for all of the terms as a function of the particular relevant decision variable, and then calculates the mutual satisfaction function for the offering party and the other parties, also as a function of the particular relevant decision variable. Finally, the computer calculates the set of decision variable yielding the maximum mutual satisfaction and provides this output to the parties.

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Patent Owner(s)

Patent OwnerAddress
OPTIMARK INC24TH FLOOR 10 EXCHANGE PLACE CENTER JERSEY CITY NJ 07302

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Lupien, William A Hesperus, CO 10 5400
Rickard, John T Durango, CO 16 2941
Wallace, George A Durango, CO 5 332

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