N-Dimensional Matrix Auction System for Multi-Attribute Bidding
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Solution Overview
Problem
Traditional negotiation platforms in computer systems for conducting auctions are limited by their one-dimensional approach, which hinders effective bidding and analysis, and existing algorithms for converting non-price attributes into cash terms or vice versa are poorly understood, leading to underutilization.
Innovation Solution
Implementing an n-dimensional matrix system for auction platforms that allows for the posting and bidding on multiple attributes, enabling bidders to engage in complex negotiations with real-time updates and auto-bidding options, and facilitating preference design negotiations that allow hosts to modify attributes and bidder responses.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional one-dimensional list structure is used for lots, then system simplicity is maintained, but bidding efficiency and analysis capability are limited
Solution Approach 1:
The patent transitions from a one-dimensional list structure to an n-dimensional matrix structure where lots are organized across multiple dimensions (e.g., product categories, geographic regions, time periods). This dimensional expansion enables bidders to simultaneously analyze and bid on multiple lots across different attributes, dramatically improving bidding efficiency and analytical capability while accepting increased system complexity.
2Adaptability or versatility
If existing algorithms for converting non-price attributes to cash terms are implemented, then negotiation capability is enhanced, but user understanding and utilization remain poor
Solution Approach 1:
The patent introduces an intermediary algorithmic layer that automatically converts non-price attributes (e.g., delivery terms, product specifications) into cash equivalents and vice versa. This intermediary mechanism handles the complexity of multi-attribute negotiation behind the scenes, allowing users to benefit from enhanced negotiation capability without needing to understand the underlying conversion algorithms, thus maintaining ease of operation.
3Measurement precision
If n-dimensional matrix with multiple attributes is implemented, then bidding accuracy and participation are improved, but system complexity increases
Solution Approach 1:
The patent segments the n-dimensional matrix into manageable components including hierarchical lot groupings, attribute categories, and bid types. By dividing the complex multi-attribute bidding system into smaller, organized segments, the system achieves high bidding accuracy through precise attribute matching while making the overall complexity more tractable through structured organization and modular processing.
Data Source
AI summary
There is provided a computer system for conducting auctions over a computer network, comprising: a posting system operable to post on the computer network information describing each lot of a plurality of lots that are available for bidding by a plurality of bidders, each lot including at least one item; a bid receiving system for receiving a bid relating to at least a portion of a lot of the plurality of lots, characterized in that the posting system is operable to define an n-dimensional matrix, where n is at least 2, wherein the matrix comprises the plurality of lots, and wherein the posting system is operable to post the matrix on the computer network. A computer-implemented method relating to the computer system, and a computer-readable medium containing instructions for implementing the computer-implemented method, are also provided.