Patent ID: 7328185
Filing Date: 2008-02-05
Classification: G06Q

Abstract:
1. A method, in a data processing system, for generating bids for an auction, the method comprising: sorting a plurality of bids for a set of bidding agents by decreasing bid amount to form a sorted set of bids, wherein bids for the set of bidding agents are sorted using upper limits for the bids for the set of bidding agents; identifying a first bid from the plurality of bids for which an unallocatable portion of a requested quantity is present; selecting a number of bids from the plurality of bids, wherein the number of bids is higher in the sorted set of bids than the first bid and wherein each bid in the number of bids has an allocation requirement less than the unallocatable portion of the first bid; setting a price for the number of bids to form a final equilibrium price; and submitting a bid, in the data processing system, for each of the bidding agents based on the final equilibrium price.