System and method for conducting a two-sided auction

A system, method, apparatus, and computer program code for conducting a two-sided auction include defining a plurality of transformation functions available for use in the auction. A bid for an item offered in the auction is received, and at least one transformation function is identified, based at...

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Bibliographic Details
Main Authors Grey, William, Feldman, Stuart, Kumar, Manoj, Shi, Dailun, Wu, Frederick, Eck, Brian, Dietrich, Brenda
Format Patent
LanguageEnglish
Published 27.02.2003
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Summary:A system, method, apparatus, and computer program code for conducting a two-sided auction include defining a plurality of transformation functions available for use in the auction. A bid for an item offered in the auction is received, and at least one transformation function is identified, based at least in part on the bid or the buyer or the seller. The selected transformation function is applied to the bid to produce a transformed bid, and a state of the auction is updated based on the transformed bid. An offer for an item offered in the auction is received, and at least one transformation function is identified, based at least in part on the offer or the seller. The selected transformation function is applied to the offer to produce a transformed offer, and a state of the auction is updated based on the transformed offer.