2-phase auction design and implementation

摘要

A system and method for implementing and conducting a 2-phase clock and sealed-bid auctionfor a multi-part product includes more than one remote computer stations connectedto a network, a web server to receive and store bid information and auction parameters.The web server can include application software configured to initiate a clockphase and a sealed-bid phase. The clock phase generally includes presenting bidderswith an initial price structure for the multi-part product, receiving bids fromeach of the bidders, storing the bids, and comparing the bids to a transition rule.The software can initiate the sealed-bid phase based on the comparison betweenthe bids and the transition rule. The seal-bid phase generally includes providingsealed-bid parameters to the bidders, receiving a sealed-bid from the bidders,and determining an auction winner based on a selection rule.