Modified Japanese Reverse Auction
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United States of America Patent
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Issued Date -
Sep 22, 2016
app pub date -
Mar 18, 2015
filing date -
Mar 18, 2015
priority date (Note) -
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Abstract
Disclosed is a modified Japanese reverse auction and a system which implements the method. In accordance with example embodiments, a system may include a server having a computer readable medium encoded with instructions to cause a processor to determine whether at least one bidder in the auction failed to opt into the auction at an earlier stage and, if so, offer the at least one bidder an opportunity to reenter the auction provided the total number of times the at least one bidder failed to enter the auction does not exceed a preset value.
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