Patent ID: 8204821
Filing Date: 2012-06-19
Classification: G06Q

Abstract:
1. A computer implemented method for collaborative development before occurrence of a real-world securities offering of price forecasting information to guide bidders in the real-world securities offering, comprising: configuring in an auction manager data processing system a simulation auction based on the real world securities offering, including selecting a set of auction rules for determining auction outcomes from simulation bids for simulated securities corresponding to the real world securities offering; offering participation in the simulation auction by providing information on the real world securities offering and about receiving simulation bids from simulation participants, each simulation bid stating a per share price a simulation participant would pay for securities in the corresponding real world securities offering and the number of shares the simulation participant would purchase at such price, with multiplication of number of shares and share price defining a total simulation bid amount; receiving via a communication network a plurality of simulation bids submitted by simulation participants and requiring for simulation bids payment of a participation fee that is a fraction on the order of one-five-thousandth of the total simulation bid amount; compiling the received simulation bids prior to occurrence of the real world securities offering; before occurrence of the real world securities offering, applying in a computer processor the selected set of auction rules to the compiled simulation bids, to compute a simulated clearing price for the simulated securities in the simulation auction; providing to simulation participants price forecasting information before occurrence of the real world securities offering, said information selected from the group consisting of: (a) an individual auction outcome indicating whether a simulation participant's simulation bid was rejected or not and, if rejected, whether it was rejected as below the simulated clearing price determined in the simulation auction, and (b) the simulated clearing price; and accepting a portion of the simulation participants to participate with a simulation bid of a minimum total simulation bid amount and receive auction outcome information or a simulation bid credit only when such simulation bid and accompanying participant registration information have sufficient relative collaborative forecasting utility as determined by a rewards module that evaluates simulation bids at least in part by proximity to the simulated clearing price.