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:
Feb. 17, 2009
Filed:
Jul. 10, 2001
Kemal Guler, Cupertino, CA (US);
Tongwei Liu, Redwood City, CA (US);
Hsiu-khuern Tang, Menlo Park, CA (US);
Kay-yut Chen, Sunnyvale, CA (US);
Fereydoon Safai, Los Altos Hills, CA (US);
Ren Wu, San Jose, CA (US);
Kemal Guler, Cupertino, CA (US);
Tongwei Liu, Redwood City, CA (US);
Hsiu-Khuern Tang, Menlo Park, CA (US);
Kay-Yut Chen, Sunnyvale, CA (US);
Fereydoon Safai, Los Altos Hills, CA (US);
Ren Wu, San Jose, CA (US);
Hewlett-Packard Development Company, L.P., Houston, TX (US);
Abstract
One embodiment of the present invention provides a method and system that computes the optimal level of the reserve price for an auction, with respect to a multiplicity of possible evaluation criteria that the end user of the system may specify. In one embodiment, structural elements characterizing the auction situation are estimated from bid data available on past auctions. The estimated structural elements are then used in the formulation of the user's expected payoff as a function of the reserve price. This objective function is then optimized to obtain the best level of the reserve price. In one embodiment, this method is implemented by a process executed on a computer system, under the control of software and firmware directing the operation of its processors and components. In one embodiment, a computer readable medium causes a computer system to execute the steps in a process for implementing the method.