Traditional commerce model Seller advertises a unit of supply in the marketplace at a specified price. The buyer takes it or leaves it.
Buyer advertises a unit of demand to a group of sellers at a specified price.
This is a mechanism for collecting and forwarding units of demand to interested sellers - a demand collection system. Allow seller to see latent demand in the marketplace, that is, the demand that exists beneath the established price of a product or service. Price is irrevocable and guaranteed via credit card before the final parties to the transaction are determined. Avoids free riders , those who would take a discounted price even though they would have been willing to pay the full price. Reverse Auctions Demand Collection System Offer of a guaranteed price for a generic product or service.