Method and system for conducting electronic auctions with multi-parameter price equalization bidding
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United States of America Patent
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Apr 5, 2011
Grant Date -
Oct 11, 2007
app pub date -
Jun 1, 2007
filing date -
Mar 31, 1999
priority date (Note) -
In Force
status (Latency Note)
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Abstract
An auction is conducted by obtaining, from a buyer, information associated with a product to be purchased using an auction, where the buyer purchases the product from a winning bidder. The obtained information associated with the product is made available to at least a first bidder and a second bidder. A first bid that includes a first price and a first non-price information is received from the first bidder. A second bid that includes a second price and a second non-price information is received, from the second bidder. Non-price information is associated with (1) a description of a particular product a given bidder will provide in the event the given bidder wins the auction and/or (2) delivery of a product by the given bidder in the event the given bidder wins the auction. A first comparison value is generated based at least in part on the first price and the first non-price information. A second comparison value is generated based at least in part on the second price and the second non-price information. The first comparison value and the second comparison value are compared and the winning bidder of the auction is selected based at least in part on the comparison.
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