System and method for conducting a sell side auction

A system, method, apparatus, and computer program code for conducting a sell-side auction process includes defining a plurality of transformation functions available for use in the auction. A bid for the item offered in the auction is received, and at least one transformation function is identified,...

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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 sell-side auction process includes defining a plurality of transformation functions available for use in the auction. A bid for the 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. 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.