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:
Jan. 08, 2013
Filed:
May. 12, 2011
Markus R. Ettl, Yorktown Heights, NY (US);
Karthik Sourirajan, White Plains, NY (US);
Zhengliang Xue, Yorktown Heights, NY (US);
Markus R. Ettl, Yorktown Heights, NY (US);
Karthik Sourirajan, White Plains, NY (US);
Zhengliang Xue, Yorktown Heights, NY (US);
International Business Machines Corporation, Armonk, NY (US);
Abstract
Win probability estimation model that statistically computes the probability of winning a bid at a given price, and profit optimization models that compute the optimal price for a bid balancing the probability of winning a bid at a price with the profitability of the bid at the given price. In one stage, an expected profit margin of a product may be formulated as a function of its profit margin and win probability to compute its optimal profit margin. In another stage, an expected profit for one or more product accessories may be formulated as a function of the profit margin and their conditional win probability given the server win to compute their optimal profit margins. The conditional win probabilities for the product accessories may be modeled as a function of the utilities of the various purchase options that contain the product and that accessory.
Data source: USPTO (United States Patent and Trademark Office) public patent records. Weekly synchronization. How IDiyas builds this profile