AUTOMATED EXCHANGE FOR THE EFFICIENT ASSIGNMENT OF AUDIENCE ITEMS

摘要

An automated exchange system is provided which includes a smart electronic double auction for allocating audience items among perspective buyers and sellers for calculating a set of prices for these items, i.e. any form of advertising time and/or space in any media environment, based on buyer bids and seller offers. The system and method include processing bids and offers, identifying a set of trades in audience items between buyers and sellers whi ch optimize gains obtained by buyers and sellers from the set of trades in the audience items and calculating a price for each item (12). The system processes participants' complex preferences for multiple, heterogeneous, ite ms while providing efficiency advantages, such as reduced transaction costs.