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Method and system for disguised price bidding in online auctions

Inactive Publication Date: 2008-06-05
ARIBA INC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0039]These shortcomings and other limitations are obviated in accordance with the present invention by increasing the competitiveness within an auction by enabling the auction system to disguise the actual value of bids from bidders. This feature has the effect of allowing a market-leading bid that is far below the level of competing second or third place bids.

Problems solved by technology

However, the bidder of the first-place bid does not know how much better his bid is than the second-place bid.
In addition, if a bid is ranked #2 or higher, the bidder has no way of inferring by how much the market-leading bid differs from his own bid.

Method used

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  • Method and system for disguised price bidding in online auctions
  • Method and system for disguised price bidding in online auctions
  • Method and system for disguised price bidding in online auctions

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Embodiment Construction

[0052]Reference will now be made in detail to the preferred embodiments of the present invention, examples of which are illustrated in the accompanying drawings. The present invention described below extends the functionality of the inventive electronic auction system and method described in greater detail in co-pending application Ser. No. 09 / 252,790, entitled “Method and System for Conducting Electronic Auctions,” filed Feb. 19, 1999, the disclosure of which is hereby expressly incorporated in the present application.

[0053]The present invention obtains the benefit of both the interactivity of a traditional online auction and the secrecy of a sealed bid auction. In the online auction of the present invention, a bidder only knows his ordinal rank order rather than the value of the low market bid. Interaction occurs when bids are received that change the ordinal rank order, thereby inducing a competitive response.

[0054]In an interactive auction, bidders compete against each other as ...

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PUM

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Abstract

A method and system for conducting electronic online auctions having disguised bidding is disclosed. Submitted bids are ordered on a basis of a comparative bid parameter used by an originator of an auction. The ordinal rank of a bid is reported to the bidder.

Description

BACKGROUND OF THE INVENTION[0001]The disclosed invention relates generally to conducting online electronic auctions, and in particular to online electronic auctions featuring partial quantity evaluated rank bidding.[0002]Traditional Procurement Models[0003]Procurement of supplies traditionally has involved high transaction costs, especially information search costs. The introduction of electronic commerce introduced new methods of procurement that lower some of the transaction costs associated with procurement. Online procurement, or business-to-business electronic commerce, matches buyers and suppliers so that transactions can take place electronically. There are three models for online procurement: catalog, buyer-bidding auction, and supplier-bidding auction.[0004]The “catalog” model of online procurement was the first to be developed. The first electronic catalogs were developed by suppliers to help customers obtain information about products and order supplies electronically. Th...

Claims

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Application Information

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IPC IPC(8): G06Q30/00G06Q20/10G06Q30/08G06Q40/00
CPCG06Q20/108G06Q40/04G06Q40/00G06Q30/08
Inventor KINNEY, SAM E.STEVENS, ROBERT G.LEVIS, JOHN P.
Owner ARIBA INC
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