System and method for conducting an electronic auction over an open communications network

摘要

An interactive computer system is provided for conducting auctions over an open communications network. The system comprises one or more remote bidder sites interconnected with one or more remote seller sites. A bidder site comprises data input means for entering data relating to desired merchandise to be acquired at an auction, bidding strategy generation means for automatically generating a bidding strategy on the basis on the input data relating to the desired merchandise and mobile bidding agent means adapted to implement the generated bidding strategy at a remote seller site. A seller site comprises data input means for entering data relating to merchandise to be auctioned, selling strategy generation for generating a selling strategy on the basis on the input data relating to the merchandise to be auctioned and selling agent means adapted to implement the generated selling strategy by interaction with one or more bidding agents at that seller site. An auction management means controls and synchronises the bidder and seller agent means during an auction at that seller site. <IMAGE>