Method for optimal winner determination in combinatorial auctions
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United States of America Patent
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May 11, 2010
Grant Date -
Jul 5, 2007
app pub date -
Feb 28, 2007
filing date -
Oct 27, 1998
priority date (Note) -
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Abstract
In a multi-unit combinatorial auction, reverse auction, or exchange, a number of bids can be received, with each bid including one or more items and for each item a desired quantity thereof. Each bid also includes a price. A number of unique combinations of bids can be formed from the received bids, and the one combination of bids which represents the best value in terms of an auction setting, a reverse auction setting and/or an exchange setting can be determined. Thereafter, the bids forming this combination can be declared the winning bids of the auction, reverse auction or exchange.
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