Smooth end of auction on the internet
AssigneeInternational Business Machines Corporation
InventorNimrod Megiddo
Life of this patent
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Abstract
The present invention provides a smooth ending system for an auction on the Internet. The system randomly selects an end time for the auction by picking an auction duration from a probability distribution, so that bidders have no preferences over the time of bidding. At any given time, assuming that the auction is still in process, there is a fixed probability, independent of the time that has elapsed since the beginning of the auction, that the auction will end within the next time unit.
Claims15
A method for randomly varying the time period of an on-line auction, said on-line auction performed on a system comprising one or more remote computers, at least one remote seller, an auctioneer site and a communication network connecting said remote computers and said at least one remote seller to said auctioneer site, said method comprising the following steps:
- receiving information associated with a prospective auction;
- receiving a desired expected duration, d, associated with said prospective auction;
- calculating a random auction duration D, based upon said received expected duration d;
- setting an actual duration of said prospective auction to said calculated D,
- receiving one or more bids from said one or more remote computers during said random auction duration period, and
- wherein said one or more bids are received without disclosing said actual duration period D.
A method for automatically selecting a random end-time for an on-line auction, said method comprising the following steps:
- receiving d, said d corresponding to a desired expected duration of said on-line auction;
- selecting random number, r, from an exponential distribution, wherein 0<r<m and m>>1;
- calculating a random auction duration, D, according to
- D=−d In (1−r/m), and
- setting duration associated with said auction to D;
- whereby, said on-line auction ends without revealing said duration of said auction.
A system for selecting an auction end-time randomly comprising:
- an auctioneer site which receives item information from at least one seller and bidding information from at least one bidder;
- a computer server connected via communication lines to said at least one bidder and said at least one seller;
- a database which receives and stores information pertaining to said auction;
- an auction manager which manages said auction;
- a receiver which accepts a proposed expected duration, d;
- a calculator which computes a random auction duration, D, based on said proposed duration, d, and a number, r, picked at random from an exponential distribution;
- and
- a timer which begins said auction at time to for a duration equal to said random auction duration, D.
An article of manufacture comprising a computer product implementing a process for randomly selecting an end-time for an auction across networks comprising programmable code implementing:
- receiving expected duration, d;
- picking pseudo random number, r, from an exponential distribution, wherein 0<r<m and m>>1;
- calculating a random auction duration, D, from an exponential distribution with an expectation equal to said received expected duration, d, and
- m setting duration associated with said auction to D;
- wherein said auction starts at time=t and said auction ends at time=t+D.
Dependencies are inferred from the claim text.