Patent ID: 7337139
Filing Date: 2008-02-26
Classification: G06Q,H04L

Abstract:
1. A system for conducting an automated auction for multiple objects in multiple rounds, the auction allowing assignment of identical objects, similar objects or close substitutes at different prices, the system comprising: a plurality of bid entry terminals operated by bidders; a bidding information processor, the bidding information processor being communicatively coupled to the bid entry terminals and comprising: means for generating current bidding information, the current bidding information including at least an indicator of a current price, means, coupled to the generating means, for transmitting a signal representing current bidding information from the bidding information processor to bid entry terminals, means for receiving bids from bid entry terminals, and means for determining, separately for each of a plurality of bidders, a quantity of objects, if any, to be assigned in a current round; means assigning the determined quantity of objects to the determined bidder in the current round, said assigning creating an obligation for the determined quantity with respect to the determined bidder; each bid entry terminal comprising: means for receiving a bid from a participating bidder, the bid indicating a quantity of objects to be transacted, means, coupled to the bid receiving means, for transmitting a signal representing the bid to the bidding information processor, and means for receiving current bidding information from the bidding information processor; wherein the determining means comprises: