Methods for performing large scale auctions and online negotiations
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United States of America Patent
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Nov 21, 2000
Grant Date -
N/A
app pub date -
Sep 10, 1998
filing date -
Sep 10, 1998
priority date (Note) -
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status (Latency Note)
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Abstract
A method for performing continuous auctions over a computer network system consisting of a server/seller and multiple clients/buyers. The seller makes information about the type of sale items, the number of sale items, minimum bid price, time limits for bids to be submitted, and estimated time interval to the next auction decision available to the buyer by displaying it on buyers' computer terminals. Each buyer responds by entering a bid and such bid's duration, within the time limits set by the seller, in to the auction system through buyers' computer terminals. Additionally, a buyer's bid entry time is saved by the system. Determining the response time for present buyers to schedule the next auction. At least one auction winner, whose bid is within bid duration, is selected through a dynamically adjusted customer selection method.
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