US 7,444,299 B2Granted

System and computer program product for conducting electronic auctions with aggregate lotting for transformation bidding

AssigneeAriba, Inc.

InventorsChristopher J. Smith, Anthony F. Bernard, William D. Rupp

Life of this patent

Estimating the term…

Loading patent…

Abstract

An auction methodology wherein individual demands are bid in lots and an aggregation of several lots is then run as an individual lot to determine if the buyer can attract a lower price offering from bidders by selecting to award the total volume of all of the individual lots to one bidder. A bidder-specific transformation factor for the aggregate lot is computed by combining selected transformed values (one for each lot) that take into account that bidder's price offerings for individual lots and the buyer-specified transformation factors for that bidder. Each bidder is then invited to bid a discount percentage for the aggregate lot. This discount percentage is then used along with the bidder-specific transformation factor to generate that bidder's transformed value for the aggregate lot. The bidder with the lowest transformed value for the aggregate lot may be selected as the winning bidder. The combination of bid transformation and lot aggregation results in obtaining an optimum bid for the buyer because it allows the buyer to accurately evaluate the bids received for the aggregate lot.

Claims22

Dependent claims

A system for conducting an auction, wherein each of a first and a second bidder is competing for a first lot and a second lot to be auctioned by an auction requester, including:

a processor configured to:
receive at least one bid for each of said first and said second lots from each of said first and second bidders, wherein the first and second bidders are sellers for supplying the first and second lots and wherein the auction requester is a buyer seeking to purchase the first and second lots;
wait until bidding for each of said first and said second lots is closed;
invite by transmitting data to said first and said second bidders to offer a first price and a second price respectively for an aggregate lot after said bidding for each of said first and second lots is closed, wherein said aggregate lot is created by combining said first and said second lots;
for said first bidder, present a first transformed price for said aggregate lot based on the first price offered for the aggregate lot by the first bidder and one or more first transformed bids received from said first bidder for said first and second lots individually, wherein each of the one or more first transformed bids is based on a first transformation function and a first set of non-comparative bid parameters, and wherein the first transformation function and at least one of the first set of non-comparative bid parameters are known only to the auction requester;
and
for said second bidder, present a second transformed price for said aggregate lot based on the second price offered by the second bidder for the aggregate lot and from one or more second transformed bids received from said second bidder for said first and said second lots individually, wherein each of the one or more second transformed bids is based on a second transformation function and a second set of non-comparative bid parameters, and wherein the second transformation function and at least one of the second set of non-comparative bid parameters are known only to the auction requester;
and
a memory coupled to the processor and configured to provide the processor with instructions.

6 more elements

A computer program product for conducting an auction, wherein each of a first and a second bidder is competing for a first lot and a second lot to be auctioned by an auction requester, the computer program product being embodied in a computer readable medium and comprising computer instructions which, when executed by a processor cause a computer to:

receive at least one bid for each of said first and said second lots from each of said first and second bidders, wherein the first and second bidders are sellers for supplying the first and second lots and wherein the auction requester is a buyer seeking to purchase the first and second lots;
wait until bidding for each of said first and said second lots is closed;
invite by transmitting data to said first and said second bidders to offer a first price and a second price respectively for an aggregate lot after said bidding for each of said first and second lots is closed, wherein said aggregate lot is created by combining said first and said second lots;
for said first bidder, present a first transformed price for said aggregate lot based on the first price offered for the aggregate lot by the first bidder and one or more first transformed bids received from said first bidder for said first and second lots individually, wherein each of the one or more first transformed bids is based on a first transformation function and a first set of non-comparative bid parameters, and wherein the first transformation function and at least one of the first set of non-comparative bid parameters are known only to the auction requester;
and
for said second bidder, present a second transformed price for said aggregate lot based on the second price offered by the second bidder for the aggregate lot and from one or more second transformed bids received from said second bidder for said first and said second lots individually, wherein each of the one or more second transformed bids is based on a second transformation function and a second set of non-comparative bid parameters, and wherein the second transformation function and at least one of the second set of non-comparative bid parameters are known only to the auction requester.

3 more elements

Dependencies are inferred from the claim text.

Facts

Application: 11/897,554Filed 30 Aug 2007 · continuation
Priority: 31 Mar 1999
Published: US 2007/0299765 A127 Dec 2007
Granted: 28 Oct 2008
Term ends: Not estimatedThe source records don’t support an estimate.

Classification8 codes

G06Q 30/02
Commerce: marketing; Price estimation or determination; Fundraising
G06Q 30/0234
Discounts or incentives, e.g. coupons or rebates: rebates after completed purchase
G06Q 30/0235
Discounts or incentives, e.g. coupons or rebates: constrained by time limit or expiration date
G06Q 30/0601
Buying, selling or leasing transactions: electronic shopping [e-shopping]

Family

Application09/282,157Parent of this continuation-in-part · filed 31 Mar 1999
Application09/947,949Parent of this continuation · filed 6 Sep 2001
US 2007/0299765 A1Pre-grant publication · published 27 Dec 2007
US 7,346,574 B2Parent of this continuation
US 7,249,085 B1Parent of this continuation-in-part
Application09/947,949Parent of this continuation-in-part
US 2002/0032621 A1Published application
US 7,444,299 B2This patent

From the US filing history. Foreign family members aren’t listed.