William J Cornell

Title: William J Cornell: Innovator in Auction Systems

Introduction

William J Cornell is a notable inventor based in Boston, MA (US). He has made significant contributions to the field of auction systems, particularly through his innovative methods involving interest rate bidding. With a total of 3 patents to his name, Cornell has demonstrated a commitment to enhancing financial transactions through technology.

Latest Patents

Cornell's latest patents include a method and system for conducting auctions with interest rate bidding. One of his inventions, titled "Auction with Interest Rate Bidding," outlines a process where offers are received from bidders expressed as interest rates for a financial instrument. This system operates in a declining auction format, where the published interest rate decreases automatically in response to a lack of bidding activity. Another patent under the same title describes a system that initiates a declining auction based on a starting interest rate and a maximum interest rate for an interest-paying item. The system identifies the lowest interest rate bid as the winning bid, thereby streamlining the auction process.

Career Highlights

William J Cornell is currently employed at eBay, Incorporated, where he continues to develop innovative solutions in the auction space. His work has significantly impacted how auctions are conducted, particularly in the realm of financial instruments.

Collaborations

Cornell has collaborated with notable colleagues such as William R Watt, II and Matthew F Ackley, contributing to the advancement of auction technologies.

Conclusion

William J Cornell's contributions to auction systems through his innovative patents reflect his expertise and dedication to improving financial transactions. His work continues to influence the industry and pave the way for future advancements.