Patent ID: 7672894
Filing Date: 2010-03-02
Classification: G06Q

Abstract:
1. A computer implemented bidding method for use in bidding on auction items that allows for a desired optimization of bid amounts over a plurality of biddable items comprising: determining a plurality of current bids for the plurality of biddable items, wherein for a biddable item the auction offers a ranking for received bids according to bid amounts; calculating via a processor a plurality of bid amounts for a given bidder for achieving a desired optimized outcome from the bidding based on a given computer-implemented utility function retrievable by the processor from a memory and executable by the processor, subjectively formulated for the bidder wherein the calculating comprises estimating the ranking of a bid amount for a first biddable item, estimating the ranking of a bid amount for a second biddable item, and comparing the estimated incremental effect of obtaining a higher estimated ranking for the first biddable item with estimated incremental effect of obtaining a higher estimated ranking for the second biddable item; and; submitting for the given bidder the plurality of bid amounts to an operator of an auction.