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:
Dec. 01, 2009
Filed:
Jul. 10, 2001
Kemal Guler, Cupertino, CA (US);
Tongwei Liu, Redwood City, CA (US);
Hsiu-khuern Tang, Menlo Park, CA (US);
Kemal Guler, Cupertino, CA (US);
Tongwei Liu, Redwood City, CA (US);
Hsiu-Khuern Tang, Menlo Park, CA (US);
Hewlett-Packard Development Company, L.P., Houston, TX (US);
Abstract
An automated estimation and optimization solution for selecting the best auction format by determining the latent elements of the auction environment taking into account the strategic and information conditions with minimal assumptions on the distributions of unobserved random elements. Structural analysis of bid data from prior auctions is used to identify and estimate the distributions of bidders' private signals conditional on observable bidder characteristics. The estimated signal distributions, identified by the structural analysis, are used to evaluate alternative auction formats and to select the best format from among a given set of candidates. The present invention provides decision support tools to select an auction format based on structural econometric analysis of available data on the market environment. A decision-maker may estimate the unobservable private signals of the bidders and to determine the best auction format the decision maker can employ to sell a given set of items.