WO2004012058A3 - System and method for promoting competition in an auction - Google Patents

System and method for promoting competition in an auction Download PDF

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Publication number
WO2004012058A3
WO2004012058A3 PCT/US2003/023683 US0323683W WO2004012058A3 WO 2004012058 A3 WO2004012058 A3 WO 2004012058A3 US 0323683 W US0323683 W US 0323683W WO 2004012058 A3 WO2004012058 A3 WO 2004012058A3
Authority
WO
WIPO (PCT)
Prior art keywords
bidder
favored
market position
auction
relative spread
Prior art date
Application number
PCT/US2003/023683
Other languages
French (fr)
Other versions
WO2004012058A2 (en
Inventor
Thomas P Hommrich
Scott A Casciato
Michael J Walker
Original Assignee
Freemarkets Inc
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Freemarkets Inc filed Critical Freemarkets Inc
Priority to AU2003261289A priority Critical patent/AU2003261289A1/en
Publication of WO2004012058A2 publication Critical patent/WO2004012058A2/en
Publication of WO2004012058A3 publication Critical patent/WO2004012058A3/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00—Commerce
    • G06Q30/06—Buying, selling or leasing transactions
    • G06Q30/08—Auctions
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00—Commerce
    • G06Q30/02—Marketing; Price estimation or determination; Fundraising
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A system and method for promoting competitive bidding in an online auction that has a bidder, a favored bidder, and a sponsor, including receiving bids from the bidder and the favored bidder, deriving a relative spread, determining a market position for the bidder and the favored bidder, and displaying feedback information to at least one of the favored bidder or the bidder. The relative spread represents a minimum premium amount required before the sponsor awards a contract to a non-favored bidder. The market position reflects a comparison of the bid of the favored bidder to the bid of the bidder using the relative spread and the feedback information shows the market position.
PCT/US2003/023683 2002-07-29 2003-07-29 System and method for promoting competition in an auction WO2004012058A2 (en)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU2003261289A AU2003261289A1 (en) 2002-07-29 2003-07-29 System and method for promoting competition in an auction

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US10/207,231 US7974908B1 (en) 2002-07-29 2002-07-29 System and method for promoting competition in an auction
US10/207,231 2002-07-29

Publications (2)

Publication Number Publication Date
WO2004012058A2 WO2004012058A2 (en) 2004-02-05
WO2004012058A3 true WO2004012058A3 (en) 2009-06-18

Family

ID=31186673

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2003/023683 WO2004012058A2 (en) 2002-07-29 2003-07-29 System and method for promoting competition in an auction

Country Status (3)

Country Link
US (1) US7974908B1 (en)
AU (1) AU2003261289A1 (en)
WO (1) WO2004012058A2 (en)

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US8612300B2 (en) 2006-09-08 2013-12-17 Ariba, Inc. Buyer/supplier network that aids supplier enablement through collaboration between buyers and suppliers
US8732036B2 (en) 2010-05-07 2014-05-20 Ariba, Inc. Supplier/buyer network that provides catalog updates
US20120084169A1 (en) * 2010-09-30 2012-04-05 Adair Aaron J Online auction optionally including multiple sellers and multiple auctioneers
US8392317B2 (en) 2010-11-09 2013-03-05 Ariba, Inc. Facilitating electronic auction of prepayment of an invoice
US8688537B2 (en) 2011-05-22 2014-04-01 Ariba, Inc. Maintenance of a company profile of a company associated with a supplier/buyer commerce network
US9990634B2 (en) 2011-05-22 2018-06-05 Ariba, Inc. Managing an experience of a member organization of a collaborative commerce community through a network
US9836773B2 (en) 2011-05-22 2017-12-05 Ariba, Inc. Evaluation and selection of quotes of a commerce network
US20140156438A1 (en) * 2012-11-30 2014-06-05 Timothy Rex Beavers Enhanced Online Dutch Auction with Seller Optimized Pricing Algorithms and Tabular Bidding Interface
US20180268351A1 (en) * 2017-03-20 2018-09-20 Genex Science And Technologies Pvt. Ltd. System and method for assigning logistic order to consignor based on reverse bidding

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Also Published As

Publication number Publication date
WO2004012058A2 (en) 2004-02-05
AU2003261289A8 (en) 2009-07-30
US7974908B1 (en) 2011-07-05
AU2003261289A1 (en) 2004-02-16

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