Patent Number: 8,577,746

Title: System and method for multi-product clock auctions

Abstract: A system and method for adjusting prices and/or quantities of products in a multi-product clock auction are disclosed. An auction manager module determines first prices for the products and subsequently receives first bids from one or more bidding devices based on the first prices. After receiving first bids using the first prices, the auction manager module modifies the first prices to generate adjusted prices if the first bids indicate a product is oversubscribed. After receiving second bids using the adjusted prices, if a product is undersubscribed, the auction manager module rolls back the adjusted price of the undersubscribed product to the first price. In one embodiment, the auction manager module also rolls back product quantities from the second bids to quantities from the first bids if such a modification alleviates product undersubscription.

Inventors: Milgrom; Paul R. (Stanford, CA), Salant; David J. (Tiburon, CA)

Assignee: Auction Technologies, LLC

International Classification: G06Q 30/00 (20120101)

Expiration Date: 1/05/12017