Patent ID: 8271345

Claim:
A computer-implemented method for performing a sealed-bid auction of lots on one or more computing devices, the method comprising: receiving, on the one or more computing devices, a first bid group from a first bidder, the first bid group including a first plurality of bids, and receiving a first budget constraint specifying a total money amount the first bidder can spend for the group in the sealed-bid auction, wherein a sum of the first plurality of bids exceeds the first budget constraint; receiving, on the one or more computing devices, a second bid group from a second bidder, the second bid group including a second plurality of bids for the sealed-bid auction; and determining, on the one or more computing devices, using the sealed-bid auction of lots, an allocation of lots that awards bids to the first bidder and the second bidder, wherein the allocation maximizes a price for awarded bids, subject to at least the first budget constraint.