Increasing market efficiency of ticket supply systems
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United States of America Patent
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Sep 6, 2011
Grant Date -
Mar 27, 2008
app pub date -
Sep 25, 2006
filing date -
Sep 25, 2006
priority date (Note) -
Expired
status (Latency Note)
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Abstract
The present invention describes a configurable risk-driven contracting service for limited capacity advanced-scheduled events for which tickets are sold. In the invention, multiple batches of tickets can be released in a time-sequenced fashion. Some of the batches can be auctioned. Dynamic per-batch pricing can be implemented that is based upon a relative market value of the tickets, which can be determined in part by captured auction data. Auction data can include, but is not limited to, bid price, bid volume, bidder diversity, ticket quantities per bid, and bidding frequency. Auction parameters and ticket prices can vary over time in accordance with seller risks and opportunity costs, which can dynamically change as tickets for an event are sold and as the time of the event approaches. Auction bids can be adjusted for bidder selectable constraints, each having a constraint specific value. The invention can utilize one or more Web services.
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