Patent ID: 6976005
Filing Date: 2005-12-13
Classification: G06Q

Abstract:
1. A method of dynamically bidding, through a software agent, in online auctions accessible over a communications network, said method comprising: said agent initially receiving bidding-related information from a bidder; said agent initially selecting a plurality of auctions to place bids in, in accordance with said bidding-related information and a current status of one or more auctions; said agent placing bids in said plurality of auctions, wherein said plurality of auctions are located across multiple online auction sites and are scheduled to close for bidding simultaneously; and said agent, on being outbid in an auction and on the basis of said bidding-related information and by checking the current status of one or more auctions, wherein said checking comprises obtaining information relating to a value of a current highest bid in a first auction and using said information in itself determining whether to place an additional bid in said first auction or some other auction and, if said agent determines to place an additional bid, said agent selecting an auction to place said additional bid in and placing said additional bid in said selected auction, wherein said bidding-related information received from said bidder comprises a specified limit on a total value of each bid in each auction and a total value of all bids from all auctions, wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that a current bidder surplus of said bid is maximized and non-negative, wherein said current bidder surplus of said bid comprises an excess of a monetary value attached by said bidder to an item to be bid upon over a monetary value of said bid by said agent, and wherein selection of an auction for placing a bid in, whether initially or on being outbid, by said agent, is to be such that the current bidder profitability of said bid is maximized and non-negative, wherein said current bidder profitability of said bid comprises a ratio of said current bidder surplus to said monetary value of said bid by said agent.