Method and System for Prioritizing a Bidder in an Auction
AssigneeRaytheon Company
InventorsDavid W. Payton, Cory W. Peichel
Life of this patent
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Abstract
According to one embodiment of the present invention, a method for conducting an auction includes allowing one or more bidders to each bid on one or more resources, and for each of the bidders: determining a priority level; calculating a bid rate interval; and regulating the relative likelihood of the bidder winning the auction. Calculating a bid rate interval is accomplished using at least the determined priority level of the bidder. Regulating the relative likelihood of the bidder winning the auction is accomplished by regulating, based at least on the calculated bid rate interval, the time between successive bids on the one or more resources made by the bidder.
Claims24
A method for conducting an auction, comprising:
- allowing one or more bidders to each bid on one or more resources;
- for each of the bidders,
- determining a priority level;
- calculating, using at least the determined priority level, a bid rate interval;
- and
- regulating the relative likelihood of the bidder winning the auction by regulating, based at least on the calculated bid rate interval, the time between successive bids on the one or more resources made by the bidder.
A method of conducting an auction, comprising:
- allowing one or more bidders to each bid on one or more resources;
- for each of the bidders,
- restricting the bid on the one or more resources made by the bidder to only one bid;
- determining a priority level;
- calculating, using at least the determined priority level, a maximum bid;
- and
- using the calculated maximum bid as the only one bid;
- and
- determining a winning bid for the one or more resources by comparing the respective maximum bids of each of the bidders.
Logic encoded in media, the logic being operable, when executed on a processor, to:
- allow one or more bidders to each bid on one or more resources;
- for each of the bidders,
- determine a priority level;
- calculate, using at least the determined priority level, a bid rate interval;
- and
- regulate the relative likelihood of the bidder winning the auction by regulating, based at least on the calculated bid rate interval, the time between successive bids on the one or more resources made by the bidder.
Logic encoded in media, the logic being operable, when executed on a processor, to:
- allow one or more bidders to each bid on one or more resources;
- for each of the bidders,
- restrict the bid on the one or more resources made by the bidder to only one bid;
- determine a priority level;
- calculate, using at least the determined priority level, a maximum bid;
- and
- use the calculated maximum bid as the only one bid;
- and
- determine a winning bid for the one or more resources by comparing the respective maximum bids of each of the bidders.
A method of conducting an auction, comprising:
- allowing one or more bidders to each bid on one or more resources;
- repeating the following steps for each of the bidders until a set time for the auction expires,
- determining a priority level;
- calculating, using at least the determined priority level, a maximum bid;
- using the calculated maximum bid as the bid for one or more resources;
- and
- after the set time for the auction expires, determining a winning bid for the one or more resources by comparing the respective maximum bids of each of the bidders.
Dependencies are inferred from the claim text.