Link to full patent specification
Patent Number (11)
584941
Patent Title (54)
2-PHASE AUCTION DESIGN AND IMPLEMENTATION
Applicant / Patentee: (71)
CRA INTERNATIONAL, INC. . John Hancock Tower, T33, 200 Clarendon Street, Boston, MA 02116, United
States of America
Abstract/Abridgement
Patent 584941
Disclosed is a system (100) for implementing and
conducting a 2-phase clock and sealed-bid auction
for a plurality of multi-part products. The system
(100) is comprised of a plurality of remote
computer stations (102, 104, 106) and a web
server (110). The remote computer stations (102,
104, 106) are operably connected to a network
(108) and configured to receive bids from a plurality
of bidders. The web server component (110) is
operative to receive and store the bid information
from the plurality of remote computer stations and
to receive and store auction parameters from an
auction manager. The web server (110) includes
application software configured to initiate a clock
phase and a sealed bid phase, wherein the clock
phase includes:
presenting the bidders with an initial price
structure for the multi-part products;
receiving at least one bid for the multi-part
products from each of the bidders within a
defined time window;
storing the at least one bid for each of the
bidders;
comparing the auction parameters and bids
to a transition rule;
performing an end-of-round calculation;
presenting the results of the end-of-round
calculation to each of the bidders; and
initiating the sealed-bid phase based on the
comparison between auction parameters
and bids to the transition rule.
The sealed-bid phase includes:
providing sealed-bid parameters to at least
a subset of the bidders;
receiving a sealed-bid relating to one of the
multi-part products from at least a subset of
the bidders;
calculating for each bidder in the sealed-bid
phase bids relating to the multi-part
products for which no sealed-bid was
received using the sealed-bid relating to the
one of the multi-part products and an
indifference formula that leaves the seller
indifferent;
determining auction results of the sealedbid phase based on a selection rule;
selecting a winning bidder using the auction
results of the sealed-bid phase; and
receiving from the winning bidder an
indication of which of the products it will
purchase.
The bidder is not committed to purchase the
product that the sealed-bid relates to. The stored
auction parameters includes at least the initial price
structure, the defined time window, the transition
rule, and the selection rule.
Drawing
WO Publication Number
WO2009/051751
Patent Type
Patent PCT Inward
Filed (22)
16-OCT-2008
Convention
Date (320)
Country (330)
App No:
16-OCT2007
United States of
America
60/980,41
6
Nat
28-APR-2010
Class (51)
Schedule and Edition
Classification
IPC2012.01
G06Q40/00; G06F17/30; G06Q30/00
Published Complete Spec
Document
Contact : (74)
CULLEN & CO . Level 32, 239 George Street, Brisbane,
QLD 4001, Australia
Service Address :
PO Box 1062, Levin 5540, Horowhenua, New Zealand
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Action
Complet Due
ed
Jour Publishe
nal
d
Opposition period started (journal
has been published)
26-OCT- 26-OCT2012
2012
Application Accepted
04-OCT- 04-OCT- 1600 26-OCT2012
2012
2012
Party Name Changed
13-SEP2011
Under Examination
18-AUG2011
Waiting for an Examination Date
18-MAY- 16-MAY2010
2010
Filed
28-APR- 28-APR- 1571 28-MAY2010
2010
2010
13-SEP2011
Related Patents
No Related Patents found
Objections / Hearings
There are no current objections or hearings present
Last Renewed By
No renewal interest on record or public access is restricted
Applicant / Patentee & Licensee History
Applicant / Patentee:
Inventors (72)
MOLDOVANU, Benny
MILLER, Brad
CRA INTERNATIONAL, INC. . John Hancock Tower, T33, 200 Clarendon Street, Boston, MA 02116, United
States of America