Patent ID: 7742971
Filing Date: 2010-06-22
Classification: G06Q

Abstract:
1. A computer implemented method of determining a winning allocation in a forward auction, reverse auction or exchange comprising the following steps implemented by a computer processor operating under the control of a software program tangibly stored on a computer readable medium: (a) the computer processor defining a plurality of allocations, wherein each allocation defines a trade between one or more potential buyers and one or more potential sellers; (b) the computer processor querying a bidder regarding at least one preference of said bidder about at least one allocation defined in step (a), a bundle associated with the one allocation defined in step (a), or an item associated with the one allocation defined in step (a), wherein the bidder is either a buyer or a seller; (c) the computer processor receiving said bidder's reply or intimation to the query of step (b); (d) based on said reply or intimation received in step (c), the computer processor permanently eliminating from consideration as a winning allocation each allocation defined in step (a) that is either (1) not feasible or (2) not optimal; (e) repeating steps (b)-(d) at least one time, wherein: (f) based on a predetermined criteria, the computer processor selecting one of the remaining plurality of allocations as the winning allocation.