US2014304142A1PendingUtilityA1

System and method for an auction of multiple types of auctions

67
Individually held — no corporate assignee on recordPriority: May 31, 2001Filed: Jun 22, 2014Published: Oct 9, 2014
Est. expiryMay 31, 2021(expired)· nominal 20-yr term from priority
Inventors:Lawrence M. AusubelPeter C. CramtonWynne P. Jones
G06Q 40/03G06Q 30/0601G06Q 20/10G06Q 40/04G06Q 40/00G06Q 30/0212G06Q 50/188G06Q 30/08G06Q 20/20G06Q 30/0239G06Q 30/0235G06Q 40/06
67
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Claims

Abstract

An improved system and method for a computer-implemented auction in which multiple types of items are auctioned together without imposing a particular division of supply or demand among the individual types of items. In some embodiments the auction of the present invention provides a means or method for establishing prices for the types of items, wherein the prices maintain a relationship. In other embodiments, the present invention provides a means or method for implying prices from price parameters in the bids received form bidders, based on a relation among the prices for the types of items. Market clearing may be defined by the condition that the aggregate quantity bid for all types of items is less than or equal to the available quantity of all types of items. The division among the types of items within is thus determined flexibly, based on the bids at the associated prices. In other embodiments, market clearing is defined by the condition that the quantity bid for one selected type of item is less than or equal to the available quantity of the selected type of item. The quantities of the other types of items are thus determined flexibly, based on the bids at the associated prices.

Claims

exact text as granted — not AI-modified
1 . A computer system useful in enabling a bidder in an auction of two or more types of items to bid for a group of said types of items, said group including a plurality of said types of items, wherein a relation is maintained among prices for the plurality of said types of items and bid-related information is received from bidders, said system comprising:
 means for maintaining a relation among the prices for the plurality of types of item within said group; and   means for receiving bid-related information, including at least an indicator of quantity for at least one of the plurality of types of item within said group, from at least one of said bidders.   
     
     
         2 . A system as recited in  claim 1  in which the receiving of bid-related information occurs two or more times from the same bidder. 
     
     
         3 . A system as recited in  claim 1  in which the bid-related information includes a price-related parameter, said price-related parameter implying prices for at least two of the plurality of types of items within said group based on the relation maintained among the prices for the plurality of types of items within said group. 
     
     
         4 . A system as recited in  claim 3  in which the receiving of bid-related information occurs two or more times from the same bidder. 
     
     
         5 . A system as recited in  claim 1  which further comprises means for processing the bid-related information received from bidders to determine an allocation of the items. 
     
     
         6 . A system as recited in  claim 2  which further comprises means for processing the bid-related information received from bidders to determine an allocation of the items. 
     
     
         7 . A system as recited in  claim 3  which further comprises means for processing the bid-related information received from bidders to determine an allocation of the items and associated payments. 
     
     
         8 . A system as recited in  claim 4  which further comprises means for processing the bid-related information received from bidders to determine an allocation of the items and associated payments. 
     
     
         9 . A system as recited in  claim 1  wherein the means for maintaining the relation among the prices maintains the relation based upon a table or a predetermined schedule. 
     
     
         10 . A system as recited in  claim 9  wherein the means for maintaining the relation among the prices includes interpolation means for interpolating prices among prices in the table or the predetermined schedule. 
     
     
         11 . A system as recited in  claim 3  wherein the means for maintaining the relation among the prices maintains the relation based upon a table or a predetermined schedule. 
     
     
         12 . A system as recited in  claim 11  wherein the means for maintaining the relation among the prices includes interpolation means for interpolating prices among prices in the table or the predetermined schedule. 
     
     
         13 . A system as recited in  claim 1  wherein the means for maintaining the relation among the prices maintains the relation based upon an algorithm. 
     
     
         14 . A system as recited in  claim 3  wherein the means for maintaining the relation among the prices maintains the relation based upon an algorithm. 
     
     
         15 . A system as recited in  claim 1  wherein the plurality of types of items are contracts for provision of a commodity covering different time periods, wherein the time periods of at least some of the contracts have at least some overlap. 
     
     
         16 . A system as recited in  claim 5  wherein the plurality of types of items are contracts for provision of a commodity covering different time periods, wherein the time periods of at least some of the contracts have at least some overlap. 
     
     
         17 . A system as recited in  claim 16  wherein the processing means includes summation means for calculating a sum of the indicators of quantity for at least some of the contracts. 
     
     
         18 . A system as recited in  claim 17  wherein the processing means includes comparing means for comparing the calculated sum with an available quantity parameter. 
     
     
         19 . A method useful in enabling a bidder in an auction of two or more types of items to bid for a group of said types of items, said group including a plurality of said types of items, wherein a relation is maintained among prices for the plurality of said types of items and bid-related information is received from bidders, said method implemented in a system comprising at least one computer and at least one network interface responsive to a communication system, said method comprising:
 maintaining a relation among the prices for the plurality of types of item within said group, using at least one computer of said computer system; and   receiving bid-related information, including at least an indicator of quantity for at least one of the plurality of types of item within said group, from at least one of said bidders, using at least one network interface of said computer system.   
     
     
         20 . A method as recited in  claim 19  in which the receiving of bid-related information occurs two or more times from the same bidder. 
     
     
         21 . A method as recited in  claim 19  in which the bid-related information includes a price-related parameter, said price-related parameter implying prices for at least two of the plurality of types of items within said group based on the relation maintained among the prices for the plurality of types of items within said group. 
     
     
         22 . A method as recited in  claim 21  in which the receiving of bid-related information occurs two or more times from the same bidder. 
     
     
         23 . A method as recited in  claim 19  which further comprises processing the bid-related information received from bidders to determine an allocation of the items. 
     
     
         24 . A method as recited in  claim 20  which further comprises processing the bid-related information received from bidders to determine an allocation of the items. 
     
     
         25 . A method as recited in  claim 21  which further comprises processing the bid-related information received from bidders to determine an allocation of the items and associated payments. 
     
     
         26 . A method as recited in  claim 22  which further comprises processing the bid-related information received from bidders to determine an allocation of the items and associated payments. 
     
     
         27 . A method as recited in  claim 19  wherein the maintaining the relation among the prices maintains the relation based upon a table or a predetermined schedule. 
     
     
         28 . A method as recited in  claim 27  wherein the maintaining the relation among the prices includes interpolating prices among prices in the table or the predetermined schedule. 
     
     
         29 . A method as recited in  claim 21  wherein the maintaining the relation among the prices maintains the relation based upon a table or a predetermined schedule. 
     
     
         30 . A method as recited in  claim 29  wherein the maintaining the relation among the prices includes interpolating prices among prices in the table or the predetermined schedule. 
     
     
         31 . A method as recited in  claim 19  wherein the maintaining the relation among the prices maintains the relation based upon an algorithm. 
     
     
         32 . A method as recited in  claim 21  wherein the maintaining the relation among the prices maintains the relation based upon an algorithm. 
     
     
         33 . A method as recited in  claim 19  wherein the plurality of types of items are contracts for provision of a commodity covering different time periods, wherein the time periods of at least some of the contracts have at least some overlap. 
     
     
         34 . A method as recited in  claim 23  wherein the plurality of types of items are contracts for provision of a commodity covering different time periods, wherein the time periods of at least some of the contracts have at least some overlap. 
     
     
         35 . A method as recited in  claim 33  wherein the processing calculates a sum of the indicators of quantity for at least some of the contracts. 
     
     
         36 . A method as recited in  claim 35  wherein the processing includes comparing the calculated sum with an available quantity parameter. 
     
     
         37 . A non-transitory computer readable medium storing a sequence of instructions which, when executed on a system comprising at least one computer and at least one network interface responsive to a communication system, implements a method useful in enabling a bidder in an auction of two or more types of items to bid for a group of said types of items, said group including a plurality of said types of items, wherein a relation is maintained among prices for the plurality of said types of items and bid-related information is received from bidders, said method comprising:
 maintaining a relation among the prices for the plurality of types of item within said group, using at least one computer of said computer system; and   receiving bid-related information, including at least an indicator of quantity for at least one of the plurality of types of item within said group, from at least one of said bidders, using at least one network interface of said computer system.   
     
     
         38 . A medium as recited in  claim 37  in which the receiving of bid-related information occurs two or more times from the same bidder. 
     
     
         39 . A medium as recited in  claim 37  in which the bid-related information includes a price-related parameter, said price-related parameter implying prices for at least two of the plurality of types of items within said group based on the relation maintained among the prices for the plurality of types of items within said group. 
     
     
         40 . A medium as recited in  claim 39  in which the receiving of bid-related information occurs two or more times from the same bidder. 
     
     
         41 . A medium as recited in  claim 37  which further comprises processing the bid-related information received from bidders to determine an allocation of the items. 
     
     
         42 . A medium as recited in  claim 38  which further comprises processing the bid-related information received from bidders to determine an allocation of the items. 
     
     
         43 . A medium as recited in  claim 39  which further comprises processing the bid-related information received from bidders to determine an allocation of the items and associated payments. 
     
     
         44 . A medium as recited in  claim 40  which further comprises processing the bid-related information received from bidders to determine an allocation of the items and associated payments. 
     
     
         45 . A medium as recited in  claim 37  wherein the maintaining the relation among the prices maintains the relation based upon a table or a predetermined schedule. 
     
     
         46 . A medium as recited in  claim 45  wherein the maintaining the relation among the prices includes interpolating prices among prices in the table or the predetermined schedule. 
     
     
         47 . A medium as recited in  claim 39  wherein the maintaining the relation among the prices maintains the relation based upon a table or a predetermined schedule. 
     
     
         48 . A medium as recited in  claim 47  wherein the maintaining the relation among the prices includes interpolating prices among prices in the table or the predetermined schedule. 
     
     
         49 . A medium as recited in  claim 37  wherein the maintaining the relation among the prices maintains the relation based upon an algorithm. 
     
     
         50 . A medium as recited in  claim 39  wherein the maintaining the relation among the prices maintains the relation based upon an algorithm. 
     
     
         51 . A medium as recited in  claim 37  wherein the plurality of types of items are contracts for provision of a commodity covering different time periods, wherein the time periods of at least some of the contracts have at least some overlap. 
     
     
         52 . A medium as recited in  claim 41  wherein the plurality of types of items are contracts for provision of a commodity covering different time periods, wherein the time periods of at least some of the contracts have at least some overlap. 
     
     
         53 . A medium as recited in  claim 50  wherein the processing calculates a sum of the indicators of quantity for at least some of the contracts. 
     
     
         54 . A medium as recited in  claim 52  wherein the processing compares the calculated sum with an available quantity parameter.

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