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:
Mar. 08, 2011
Filed:
Jun. 15, 2010
Rayid Ghani, Chicago, IL (US);
Hillery D. Simmons, Chicago, IL (US);
Rayid Ghani, Chicago, IL (US);
Hillery D. Simmons, Chicago, IL (US);
Abstract
An auction result prediction system predicts auction results. The system may determine item, seller, or auction characteristics from prior or pending auctions. The system also obtains item characteristics of an item for which a result prediction is sought, either by a buyer or by a seller. A price predictor in the system accepts the auction and item characteristics and predicts an auction result based on the characteristics. The system also determines insurance parameters for insuring online auctions, and the insurance parameters may be based on predicted auction results. An insurance policy reflecting the insurance parameters may be offered to an online auction buyer, seller, or other market participant. The insurance policy may insure, for example, that an item for sale will obtain at least a price specified by the insurance policy.