Patent ID: 8965793
Filing Date: 2015-02-24
Classification: G06Q

Abstract:
1. A method for auctioning an auction item in a multi-attribute auction in which bids are iteratively offered to an auction owner by a plurality of bidders, the method comprising: determining a secret value function that is indicative of acceptable combination of attribute values for the auction owner to select a bid winner; receiving a bid value for each of a plurality of attributes, the bid value being determined by the bidder without knowledge of the secret value function; calculating in a processor a secret bid ranking for each bid value received according to the secret value function and determining at least a winning bid; generating in a processor alternate combinations of attribute values that are based at least in part on the secret value function wherein at least some of the combinations of attribute values are perturbed to hinder the plurality of bidders from deriving the secret value function; informing the plurality of bidders about the alternate combinations of attribute values for allowing them to offer in a next round a bid that is based on the alternate combinations of attribute values.