The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Sep. 17, 2019
Filed:
Sep. 01, 2016
Vendavo, Inc, Denver, CO (US);
Eric Bergerson, Forest Hills, NY (US);
Megan Kurka, Forest Hills, NY (US);
Huashuai Qu, Sunnyvale, CA (US);
Ilya O. Ryzhov, College Park, MD (US);
Michael C. Fu, College Park, MD (US);
Vendavo, Inc., Denver, CO (US);
Abstract
The present invention relates to systems and methods for optimizing bidding in a business-to-business environment. Initially the observed outcomes for n deals are received, and the belief parameters for these n deals are calculated. The Bayes-greedy price is then calculated and presented to a buyer. The buyer's response is collected and an optimal variance parameter based on the buyer's response is generated. The belief parameters for these n+1 deals are also updated. This process may be repeated for additional deals.