Auction of multiple heterogeneous items among multiple buyers and sellers using software agents linked via a communication network

Number of patents in Portfolio can not be more than 2000

United States of America Patent

PATENT NO 9916618
SERIAL NO

13725662

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Importance

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Abstract

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A method, system and computer program product for conducting an online auction of a plurality of heterogeneous items between a plurality of selling and potential purchasing parties. The method includes the steps of accepting an offer in respect of an item, accepting one or more subsequent offers that is/are preferable to a previously accepted offer, and rejecting the previously accepted offer. While the offer/s is/are binding on a party making the offer, acceptance of the offer/s is/are not binding on a party accepting the offer. Classes of “seller strategies”, for offering items to potential purchasing parties, and “buyer strategies”, to decide which offers to accept, are also disclosed. As a result of the interaction of the buyer and seller strategies, the auction mechanism converges to an allocation of items to buyers at particular prices and assists in discovering a free and fair competitive equilibrium price.

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Patent Owner(s)

Patent OwnerAddress
EBAY INC2145 HAMILTON AVENUE SAN JOSE CA 95125

International Classification(s)

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Garg, Rahul Ghaziabad, IN 45 810
Mishra, Debasis Madison, US 6 19

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