Method and system for controlling the initiation and duration of overtime interval in electronic auctions
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United States of America Patent
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Oct 12, 2010
Issued Date -
N/A
app pub date -
Oct 31, 2007
filing date -
Sep 18, 1998
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Abstract
Controlling overtime in an auction is disclosed. A first time interval and a second time interval are defined. A first closing time for a first lot is also defined. A first bid is received for the first lot. A second bid is received for the first lot. A correlation between the second bid and the first bid is determined. The first closing time is extended using the second time interval if the correlation between the second bid and the first bid satisfies a trigger criterion. The trigger criterion is selected from a group consisting of a rank behind market and a quantity behind market.
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