System and method for conducting a time auction
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United States of America Patent
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-
Feb 11, 2003
Issued Date -
N/A
app pub date -
May 4, 2000
filing date -
Oct 8, 1999
priority date (Note) -
In Force
status (Latency Note)
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Abstract
A system and a method of conducting a time-auction among queuing customers is described. A bid is received from one of the queuing customers and compared with the prices being offered by the other customers waiting in line. If the bid is higher than at least one of the prices, the bidding customer is advanced in line ahead of the customer offering the lower price. The system and method provide a mechanism for customers willing to pay more to advance in the queue and to move ahead of those not willing to pay as much. At the same time, the system and method allow vendors such as service providers, for whose good or services customers are willing to wait in line, to maximize the price charged for their services at any given moment.
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