System and method for an auction of multiple types of items

摘要

An improved system and method for a computer-implemented auction in which multiple types of items are auctioned together without imposing a particular division of supply or demand among the individual types of items. In some embodiments the auction of the present invention provides a means or method for establishing prices for the types of items, wherein the prices maintain a relationship. In other embodiments, the present invention provides a means or method for implying prices from price parameters in the bids received form bidders, based on a relation among the prices for the types of items. Market clearing may be defined by the condition that the aggregate quantity bid for all types of items is less than or equal to the available quantity of all types of items. The division among the types of items within is thus determined flexibly, based on the bids at the associated prices. In other embodiments, market clearing is defined by the condition that the quantity bid for one selected type of item is less than or equal to the available quantity of the selected type of item. The quantities of the other types of items are thus determined flexibly, based on the bids at the associated prices.

主权项

1. A computer system for conducting a dynamic auction of a plurality of types of items among a plurality of bidders, said system comprising:
means for establishing prices for the types of items so that there is a relation among the prices for the types of items in a group of at least two of the types of items; means for receiving one or more bids from at least one bidder, at least one of said bids including at least an indicator of at least one of the types of items; means for determining whether the auction should continue, based on the received bids; means for establishing updated prices, wherein said relation is maintained among the updated prices for the types of items in said group of types of items, following a determination that the auction should continue; and means for outputting the updated prices.