Patent ID: 10430842

Abstract:
Techniques for dynamically pricing perishable goods. The objective is to sell all items before any remaining items become worthless. The method comprises: monitoring a time parameter T corresponding to period T0 to Tn; if T<Tn, periodically updating current price Pcurrent for an item; in response client's interest, offering a temporarily fixed price Pfreeze=Pcurrent for a freeze period ΔTfreeze; updating Pcurrent in response to offering the fixed price Pfreeze; accepting a purchase order for the item at Pfreeze if purchase order received within the freeze period ΔTfreeze; rejecting the purchase order after the freeze period ΔTfreeze; updating Pcurrent in response to receiving an accepted and/or rejected order; and repeating at least some of the above the acts until T equals maximum time Tn.