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1. (WO2017041059) SYSTEMS AND METHODS FOR OPTIMAL BIDDING IN A BUSINESS TO BUSINESS ENVIRONMENT

Pub. No.:    WO/2017/041059    International Application No.:    PCT/US2016/050299
Publication Date: Fri Mar 10 00:59:59 CET 2017 International Filing Date: Sun Sep 04 01:59:59 CEST 2016
IPC: G06Q 30/08
G06Q 30/02
G06F 17/18
Applicants: VENDAVO, INC.
Inventors: BERGERSON, Eric
KURKA, Megan
QU, Huashuai
RYZHOV, Ilya, O.
FU, Michael, C.
Title: SYSTEMS AND METHODS FOR OPTIMAL BIDDING IN A BUSINESS TO BUSINESS ENVIRONMENT
Abstract:
The present invention relates to systems and methods for optimizing bidding in a business-to-business environment. Initially the observed outcomes for n deals are received, and the belief parameters for these n deals are calculated. The Bayes-greedy price is then calculated and presented to a buyer. The buyer's response is collected and an optimal variance parameter based on the buyer's response is generated. The belief parameters for these n+1 deals are also updated. This process may be repeated for additional deals.