Method ans system for bundling on-line transactions

Details Method ans system for bundling on-line transactions Method ans system for bundling on-line transactions

H - Electricity

04

L

H04L 12/16 (2006.01) G06Q 30/00 (2006.01)

Patent

CA 2299019

A system and method for auctioning items establishes a form of reverse auction. In standard reverse auctions, buyers post offers to buy and sellers respond with bids. The present system includes the additional capability of bundling multiple buyers' requests to buy common items. The present system also includes the capability of enabling both the buyers and sellers to modify the offers and bids, respectively. The bundling reduces the seller's transaction cost per item. The offer and bid modification capability enables buyer's to participate in the reverse auction bidding process. Accordingly both the buyers and sellers actively compete for auctioned items.

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