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An Efficient Method for processing bids in a Multiunit Open Cry auction with bid updates by bidders

IP.com Disclosure Number: IPCOM000010788D
Original Publication Date: 2003-Jan-22
Included in the Prior Art Database: 2003-Jan-22
Document File: 9 page(s) / 37K

Publishing Venue

IBM

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 19% of the total text.

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  An Efficient Method for processing bids in a Multiunit Open Cry auction with bid updates by bidders

Abstract

A set of potentially winning bids is maintained as a subset of bids received to date. Using the set of potentially winning bids to calculate the set of winning bids reduces the computational complexity involved in determining a set of winning bids. Bidders can modify their bids and no recomputation of the set of potentially winning bids is required. Any received bid that is not part of the set of potentially winning bids cannot become a winner solely due to arrival of new bids, or modification of old bids. In order to determine whether a bid is a potential winner, an integer phi is computed and compared with the bid quantity of the bid. This integer is the maximum number of items that can remain for possible combinations of received bids.

Background

Online auctions, especially those conducted using the Internet, are becoming increasingly popular. Unlike conventional auctions, Internet auctions do not require the bidders to be physically present or to be in close proximity with each other. Online auctions enable participants to be located remotely and over vast geographic areas. Consequently, the number of participants in online auction can be much larger than for conventional auctions.

A large number of participants in an Internet auction can put immense load on a Web server that processes the participants' bids. Accordingly, efficient techniques for processing the participants' received bids are becoming increasingly important.

At any stage during the bid processing of an Internet auction, the bid processing in the IBM Websphere Commerce SuiteTM (WCS) 4.1 commerce server combines newly arrived bids with previously arrived bids to determine the current set of winning bids, based on the auction rules.

This approach considers all the bids that have arrived to date. Calculating the winning bids can involve considerable computational expense for an underlying Web server, especially as

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a typical auction site may host hundreds of simultaneously active auctions.

Consequently, arriving bids that have the potential of becoming winning bids are desirably identified. United States Patent Application No. 09/505,509, filed February 17, 2000 in the names ofAchal Bassamboo, Manish Gupta and Sandeep Juneja under Attorney Docket No YOR920000004US1, describes a method of keeping a set of potential winning bids.

The set of potential winning bids has a maximum number of member bids equal to N log N bids (where N is the number of identical items on auction). The set of potential winning bids comprises bids that have arrived in the past and includes the current set of winning bids. The described method can also process bids that are modified by bidders. (Bidders typically place one or more bids, and when their bids lose their winning positions the bidders can modify their existing bids by increasing their bid value.)

United States...