System and method for managing tier-priced commodity transactions
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United States of America Patent
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Mar 1, 2005
Grant Date -
N/A
app pub date -
Jun 11, 1999
filing date -
Jun 11, 1999
priority date (Note) -
Expired
status (Latency Note)
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Abstract
In an embodiment, a method of operating a processor coupled to a network to manage the sale of a commodity is comprises providing bidders with respective prices for bundled products. Each bundled product comprises a commodity and a respective insurance instrument to indemnify against loss associated with at least one risk related to the purchase of the commodity by each respective bidder. The prices are provided to the bidders from the processor, over a network. Bids are received by the processor, which determines which of the bidders exceeds their respective prices by a greater amount. The bundled product may be sold to that bidder by the processor. The price of each insurance instrument may depend, at least in part, on one or more factors associated with each bidder. Different prices may therefore be provided to different bidders for respective bundled products. Systems are described as well.
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