Patents by Inventor Paul R. Milgrom
Paul R. Milgrom has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).
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Patent number: 11574358Abstract: A system and methods for allocating impressions using an auction comprises a delivery engine, a statistics collector, a forecasting module, and optimization engine and a direct demand source. The delivery engine receives indirect demand, direct demand and optimization information that it uses to allocate impressions and serve ads. The statistics collector is coupled to collect information from the delivery engine and input from the forecasting module. The forecasting module provides information to the optimization to smooth the rate at which direct demand is allocated. The optimization engine receives information from the statistics collector, the forecasting module and the direct demand source to produce optimization information that is used to generate bids for the direct demand.Type: GrantFiled: June 17, 2011Date of Patent: February 7, 2023Assignee: OpenX Technologies, Inc.Inventors: Paul R. Milgrom, Stephan J. Cunningham, Marissa R. Beck
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Publication number: 20150019364Abstract: The present invention is a system and method to sell or procure complementary goods. complementary good according to the invention is a good whose value or utility is enhanced when paired with another good, such a pair of goods is a communication license to encumbered spectrum and a complementary clearing right to clear the spectrum of its encumbrance. The invention provides automated procedures to facilitate the fashioning and sale of clearing rights so as to enhance the value of the communications license.Type: ApplicationFiled: May 31, 2014Publication date: January 15, 2015Applicant: EFFICIENT AUCTIONS, LLCInventors: Lawrence M. AUSUBEL, Peter C. CRAMTON, Paul R. MILGROM
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Publication number: 20140304098Abstract: The present invention is a system and method for a computer-implemented auction, based on a system with multiple bidder and auctioneer computers or terminals (20a-n,30) communicating with the server (10) over a network (40). The computers (20a-n) are employed by bidders, the computer (30) is employed by the auctioner, and the server (10) is the auction computer. That server consist of a CPU (11), memory (12), a data storage device (13), a communication interface (140), a clock (150), an operating system (16), and an auction program (17). In one embodiment, the system architectura is as a client-server system: the auction computer is a server; and the bidder and auctioneer are clients.Type: ApplicationFiled: October 21, 2013Publication date: October 9, 2014Inventors: Lawrence M. Ausubel, Paul R. Milgrom
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Patent number: 8788364Abstract: A system and method for configuring and executing an assignment exchange or auction with extensions to allocate items among bidders is disclosed. A server initializes the assignment auction or exchange and receives bid messages from one or more bidder devices, each bidder device associated with a bidder. Bidder devices may also communicate one or more constraints to the server to affect the allocation of items among bidders by the server. Additionally, the server includes bidder configuration data modifying the presentation of auction or exchange data to different bidders, allowing different bidders to receive different amounts of information regarding the auction or exchange. The bidder configuration data also allows the server to enable or restrict the types of bid messages different bidders may communicate to the server.Type: GrantFiled: November 18, 2010Date of Patent: July 22, 2014Assignee: Auctionomics, Inc.Inventors: Paul R. Milgrom, Steve Goldband
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Publication number: 20140195369Abstract: This invention defines a computer system for conducting an auction of a plurality of items including outputting prices for items, receiving bids, outputting updated prices and receiving further bids and then determining an allocation of at least one of the items.Type: ApplicationFiled: March 3, 2014Publication date: July 10, 2014Inventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. MILGROM
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Publication number: 20140172613Abstract: This invention defines a computer system for conducting an auction of a plurality of items including receiving bids and determining an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase.Type: ApplicationFiled: December 17, 2012Publication date: June 19, 2014Inventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Patent number: 8744924Abstract: The present invention is a system and method to sell or procure complementary goods. A complementary good according to the invention is a good whose value or utility is enhanced when paired with another good, such a pair of goods is a communication license to encumbered spectrum and a complementary clearing right to clear the spectrum of its encumbrance. The invention provides automated procedures to facilitate the fashioning and sale of clearing rights so as to enhance the value of the communications license.Type: GrantFiled: March 26, 2012Date of Patent: June 3, 2014Assignee: Efficient Auctions LLCInventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Patent number: 8577746Abstract: A system and method for adjusting prices and/or quantities of products in a multi-product clock auction are disclosed. An auction manager module determines first prices for the products and subsequently receives first bids from one or more bidding devices based on the first prices. After receiving first bids using the first prices, the auction manager module modifies the first prices to generate adjusted prices if the first bids indicate a product is oversubscribed. After receiving second bids using the adjusted prices, if a product is undersubscribed, the auction manager module rolls back the adjusted price of the undersubscribed product to the first price. In one embodiment, the auction manager module also rolls back product quantities from the second bids to quantities from the first bids if such a modification alleviates product undersubscription.Type: GrantFiled: September 23, 2010Date of Patent: November 5, 2013Assignee: Auction Technologies, LLCInventors: Paul R. Milgrom, David J. Salant
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Patent number: 8566211Abstract: The present invention is a system and method for a computer-implemented auction, based on a system with multiple bidder and auctioneer computers or terminals (20a-n,30) communicating with the server (10) over a network (40). The computers (20a-n) are employed by bidders, the computer (30) is employed by the auctioneer, and the server (10) is the auction computer. That server consist of a CPU (11), memory (12), a data storage device (13), a communication interface (140), a clock (150), an operating system (16), and an auction program (17). In one embodiment, the system architecture is as a client-server system: the auction computer is a server; and the bidder and auctioneer are clients.Type: GrantFiled: November 23, 2001Date of Patent: October 22, 2013Assignee: Efficient Auctions, LLCInventors: Lawrence M. Ausubel, Paul R. Milgrom
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Publication number: 20120323701Abstract: A system and methods for allocating impressions using an auction comprises a delivery engine, a statistics collector, a forecasting module, and optimization engine and a direct demand source. The delivery engine receives indirect demand, direct demand and optimization information that it uses to allocate impressions and serve ads. The statistics collector is coupled to collect information from the delivery engine and input from the forecasting module. The forecasting module provides information to the optimization to smooth the rate at which direct demand is allocated. The optimization engine receives information from the statistics collector, the forecasting module and the direct demand source to produce optimization information that is used to generate bids for the direct demand.Type: ApplicationFiled: June 17, 2011Publication date: December 20, 2012Applicant: OpenX Technologies, Inc.Inventors: Paul R. Milgrom, Stephan J. Cunningham, Marissa Renee Beck
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Patent number: 8335738Abstract: This invention defines a computer system for conducting an auction of a plurality of items including receiving bids and determining an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase.Type: GrantFiled: July 16, 2012Date of Patent: December 18, 2012Assignee: Efficient Auctions LLCInventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Publication number: 20120284141Abstract: This invention defines a computer system for conducting an auction of a plurality of items including receiving bids and determining an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase.Type: ApplicationFiled: July 16, 2012Publication date: November 8, 2012Inventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Patent number: 8271345Abstract: Systems and methods for conducting multi-item auctions for complex goods that allows bidders to specify budget constraints is disclosed. The system includes a server, a network, a plurality of trader systems and a data store unit. The system allows bidders to work effectively with limited budgets. The server includes an allocation unit performs a sealed-bid auction that enables bidding without the risk of going over budget, and thus, the present invention encourages bidders to place more and higher bids. Sellers will therefore receive higher prices and goods are more likely to be efficiently assigned.Type: GrantFiled: June 8, 2010Date of Patent: September 18, 2012Assignee: Auctionomics Inc.Inventors: Paul R. Milgrom, Steve Goldband
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Publication number: 20120185348Abstract: The present invention is directed to implementing iterated sealed-bid auctions of several types of products or several varieties of a single product simultaneously in order to encourage select bidders to place more and higher bids. Sellers therefore receive higher prices and products or services are more likely to be efficiently assigned. In general, iterated sealed-bid auctions are auctions in which bidders may make a variety of offers involving different prices and the final prices and allocation are determined according to the rules of a sealed-bid auction, but in which bidders may receive some feedback from initial rounds of bidding in the iterated sealed-bid auctions and have some opportunity to improve their price offers.Type: ApplicationFiled: January 18, 2012Publication date: July 19, 2012Applicant: AUCTIONOMICS, INC.Inventor: Paul R. Milgrom
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Patent number: 8224743Abstract: This invention defines a computer system for conducting an auction of a plurality of items including receiving bids and determining an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase.Type: GrantFiled: May 27, 2010Date of Patent: July 17, 2012Assignee: Efficient Auctions, LLCInventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Publication number: 20120179569Abstract: The present invention is a system and method to sell or procure complementary goods. A complementary good according to the invention is a good whose value or utility is enhanced when paired with another good, such a pair of goods is a communication license to encumbered spectrum and a complementary clearing right to clear the spectrum of its encumbrance. The invention provides automated procedures to facilitate the fashioning and sale of clearing rights so as to enhance the value of the communications license.Type: ApplicationFiled: March 26, 2012Publication date: July 12, 2012Inventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Patent number: 8145555Abstract: The present invention is a system and method to sell or procure complementary goods. A complementary good according to the invention is a good whose value or utility is enhanced when paired with another good, such a pair of goods is a communications license to encumbered spectrum and a complementary clearing right to clear the spectrum of its encumbrance. The invention provides automated procedures to facilitate the fashioning and sale of clearing rights so as to enhance the value of the communications license.Type: GrantFiled: December 21, 2000Date of Patent: March 27, 2012Inventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Publication number: 20110082762Abstract: This invention defines a computer system for conducting an auction of a plurality of items including receiving bids and determining an allocation of at least one of the items, the auction including a dynamic auction phase followed by a later phase.Type: ApplicationFiled: May 27, 2010Publication date: April 7, 2011Applicant: Efficient Auctions LLCInventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Patent number: 7729975Abstract: The present invention primarily concerns hybrid auctions that may, for example, combine a clock auction with a proxy auction. Hybrid auctions include multi-item auctions that comprise at least two phases of package auctions: an earlier phase in which bidders participate in a clock auction (or other dynamic auction); and a later phase in which bidders participate in a proxy auction (or some other package auction). By combining the earlier phase and the later phase as in some of the embodiments described herein, it is possible to combine the advantages of the dynamic auction and the advantages of the sealed-bid package auction. In particular, if the earlier phase is a clock auction and the later phase is a proxy auction, then the resulting hybrid auction will combine the transparency and simplicity of the clock auction with the efficient outcome and competitive revenues of the proxy auction.Type: GrantFiled: November 8, 2004Date of Patent: June 1, 2010Assignee: Efficient Auctions LLCInventors: Lawrence M. Ausubel, Peter C. Cramton, Paul R. Milgrom
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Publication number: 20090177555Abstract: An assignment exchange and auction system comprises a server, a network, a plurality of trader systems and a data store unit. The server performs the auction or exchange, creates and receives assignment messages, and retrieves and stores data sets to and from the data storage unit. The server processes bids and bid groups cooperates with the allocation system to determine an allocation of lots that maximizes a total money value for a plurality of bid groups subject to one or more constraints. The server also cooperates with the plurality of trader systems to present user interfaces for entering bids and bid groups, entering constraints for the bids and bid groups, and show the results of an auction or exchange.Type: ApplicationFiled: December 22, 2008Publication date: July 9, 2009Inventor: Paul R. Milgrom