System and method for encouraging competitive participation in an auction
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United States of America Patent
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Jan 14, 2014
Grant Date -
Oct 26, 2006
app pub date -
Jul 10, 2006
filing date -
Dec 31, 1998
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Abstract
In both an on-line and a conventional auction, an auctioneer may encourage competitive bidding behavior through the provision of rewards to those bidders whose bids meet predetermined criteria. For example, a bidder may be rewarded if her bid exceeds a prior bid by a threshold value. An auctioneer may further discourage non-competitive bidding behavior by penalizing those bidders whose bids fall below predetermined standards.
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