Demand estimation using auction price analysis
AssigneeHewlett-Packard Development Company, L.P.
InventorsAlex Xin Zhang, Dirk Beyer, Julie Ann Ward, Tongwei Liu
Life of this patent
Estimating the term…
Abstract
A method for generating a demand estimate for a product includes gathering a set of auction data which is relevant to the product, removing from the auction data all but a highest bid from each unique bidder in the auction data, and correcting a bias in the auction data caused by a set of characteristics of an auction from which the auction data is obtained. In one embodiment, the auction data is obtained from an on-line auction which is characterized by bidders not necessarily knowing the start time of the auction.
Claims14
A method for generating a demand estimate for a product, comprising the steps of:
- removing from a set of auction data all but a highest bid from each unique bidder in the auction data, the auction data including a set of bids for the product;
- correcting a bias in the auction data caused by a set of characteristics of an auction from which the auction data is obtained.
A system for generating a demand estimate for a product, comprising:
- a set of auction data including a set of bids for the product;
- price analyzer that removes from the auction data all but a highest bid from each unique bidder in the auction data and that corrects a bias in the auction data caused by a set of characteristics of an auction from which the auction data is obtained.
Dependencies are inferred from the claim text.