Patent ID: 7433843
Filing Date: 2008-10-07
Classification: G06Q

Abstract:
1. A method of recommending a structure for an auction, comprising: causing display of an interactive graphical user interface having data fields for specifying the structure of the auction; prompting a user to input details of the auction into the data fields; presenting an annotation in the graphical user interface that a minimum number of bidding suppliers should be four or more; receiving, in the data fields, the input details describing an auction name, an auction date, a market price, a current price, and a number of bidding suppliers that will submit bids in the auction; causing display of annotations in the graphical user interface that educate the user of an impact of the input details on the auction; if the number of bidding suppliers is less than three, then presenting a message in the graphical user interface advising that a reverse auction structure is not recommended; if the number of bidding suppliers is three, then presenting a message in the graphical user interface advising that the bidding suppliers should be competitive and non-collusive; if the number of bidding suppliers is four, then presenting another message in the graphical user interface that more bidding suppliers should be obtained; if the number of bidding suppliers is greater than four but less than thirty, causing display of a market price prompt within the graphical user interface, the market price prompt requesting whether the market price is increasing or decreasing from the current price; receiving a selection within the graphical user interface of whether the market price is stable, increasing or declining from the current price; if the market price is stable or declining, then if, however, the market price is increasing, then if the number of bidding suppliers is between five and thirty, then causing display in the graphical user interface of a recommendation for a reverse Vickrey auction structure for sourcing goods and services based on the input details, such that suppliers compete against each other to supply the goods and services to the user; and if, however, the user declines the reverse Vickrey auction, then causing display in the graphical user interface of a suggestion for a rank-only visibility structure for the auction, such that each bidder to the auction is only informed of a ranking of the bidder's bid, and each bidder is not informed of a monetary value of a winning bid.