System and method for running a dynamic auction
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United States of America Patent
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N/A
Issued Date -
Mar 13, 2003
app pub date -
Sep 10, 2001
filing date -
Sep 10, 2001
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A system and method for conducting a forward auction and a reverse auction from a single software component operable on a computer system receives information regarding the details of the auction and the direction of the auction, where the direction is either forward or reverse. A first auction is run based on the received information with the single software component. After receiving at least one bid, a winner of the first auction is determined from the at least one bid. A second auction is run with the single software component in the other of the forward or reverse direction based on the received information and information related to the determined winning bid.
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