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Double auctions with bargaining

[Category : - Ordering and selling methods]
[Viewed 427 times]

Methods for double auctions that permit bargaining between buyers and sellers as part of the price determination process may be implemented using a computer network connecting the buyers and sellers to a central market system. The central market computer system receives bids, determines matches between the buyers and sellers, and computes a price range for each of the matches. The matches and price ranges are communicated to the buyers and sellers, permitting matching sellers and buyers to bargain on a final price.

This novel marketplace design is particularly suitable for real estate transactions, or for transacting other high-value indivisible, heterogeneous goods, including patents. By design, the information provided by a buyer or seller is never used against its interest, eliminating the need for strategic bidding. The system provides an optimal match and a confidential recommended price for each buyer or seller. The recommended price may or may not coincide with that provided to the trading counterpart, depending on market conditions, and respecting the guarantee that information is never used against the participant who provides it. In case the two recommended prices do not coincide, the optimally matched buyer and seller can use their confidential recommended price as a basis for negotiation with their counterpart.

Financial information

For sale or licensing.

The algorithm is already implemented in code (python), and is available for testing at Link

sample input is of this form (a diagonal seller matrix above, and a buyer matrix below it):

100 0 0
0 170 0
0 0 180
120 180 190
150 140 130
110 190 110

Patent publications:

US 7577584

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Viewed: 427 times

Seller:

plamura (Germany)

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