Multi-attribute auction methodology and system
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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Apr 3, 2007
Grant Date -
N/A
app pub date -
Apr 7, 2000
filing date -
Apr 7, 2000
priority date (Note) -
Expired
status (Latency Note)
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Abstract
A way to conduct complex transactions by auction efficiently and with a high degree of automation is provided by a methodology for conducting auctions in which bids contain multiple attributes, as opposed to a single attribute (price). Bidders are requested to specify values for each of a set of attributes, which can include transaction terms as well as product and/or service specifications. The bids are evaluated according to criteria that are functions of these attributes in order to reject losing bids and assist the auctioneer in selecting the winning bid(s).
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