| US 7,493,280 B2 | ||
| Method and system for setting an optimal reserve price for an auction | ||
| Kemal Guler, Cupertino, Calif. (US); Tongwei Liu, Redwood City, Calif. (US); Hsiu-Khuern Tang, Menlo Park, Calif. (US); Kay-Yut Chen, Sunnyvale, Calif. (US); Fereydoon Safai, Los Altos Hills, Calif. (US); and Ren Wu, San Jose, Calif. (US) | ||
| Assigned to Hewlett-Packard Development Company, L.P., Houston, Tex. (US) | ||
| Filed on Jul. 10, 2001, as Appl. No. 9/902,928. | ||
| Prior Publication US 2003/0055773 A1, Mar. 20, 2003 | ||
| This patent is subject to a terminal disclaimer. | ||
| Int. Cl. G06Q 40/00 (2006.01) | ||
| U.S. Cl. 705—37 [705/35] | 24 Claims |
| 1. A method for determining a reserve price for a market, said method comprising:
selecting characteristics of said market;
selecting a relevant bidding model;
estimating a structure of said market, said estimating comprises expressing unobservable variables in terms of observable
bids, wherein said unobservable variables are expressed in terms of observable bids by inverting said bid model;
predicting a bidding behavior;
predicting a first outcome of said market; and
evaluating said first outcome of said market.
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