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Financial Services
PowerAuction is currently
developing a new auction site, www.capitalauction.com, for financial
services applications. The auction system will be suitable for
auctioning commercial paper, bonds, equity, and other financial services
products. Contact us
for further information on becoming an early user of this exciting new
system.
The
following downloadable articles discuss IPO auctions:
“Put
Corruption Under the Hammer,” Financial Times Op-Ed,
20 December 2002.
“Implications
of Auction Theory for New Issues Markets,” by
Lawrence M. Ausubel, Brookings-Wharton Papers on Financial
Services, 2002, pp. 313-343.
The
following downloadable papers provide the latest developments in dynamic
auctions with package bidding (a.k.a. combinatorial auctions) and
dynamic clock auctions:
“Ascending
Auctions with Package Bidding”, by Lawrence M. Ausubel and
Paul Milgrom, Frontiers of Theoretical Economics: Vol. 1:
No. 1, Article 1 (August 2002).
“An
Efficient Ascending-Bid Auction for Multiple Objects,” by
Lawrence M. Ausubel, working paper,
University of Maryland, August 2002, forthcoming, American
Economic Review.
“An
Efficient Dynamic Auction for Heterogeneous Commodities,” by
Lawrence M. Ausubel, working paper,
University of Maryland, July 2002.
PowerAuction licenses the following U.S. patents
and published International patent applications related to dynamic auctions and has other patents pending:
“Computer
Implemented Methods and Apparatus for Auctions,” U.S.
Patent Number 5,905,975, issued 18 May 1999.
“Computer
Implemented Methods and Apparatus for Auctions,” U.S.
Patent Number 6,021,398, issued 1 Feb 2000, this file only contains
the pages that differ from the 5,905,975 patent.
“System
and Method for an Efficient Dynamic Auction for Multiple
Objects,” U.S. Patent Number 6,026,383, issued 15 Feb
2000.
“System
and Method for an Efficient Dynamic Multi-Unit Auction,” U.S. Patent
Application No. 09/898,483 at the US Patent and Trademark Office;
published 2 May 2002, Publication No. US 2002/0052828.
“System
and Method for an Auction of Multiple Types of Items,” International
Application No. PCT/US02/16937 in the US Receiving Office under the
Patent Cooperation Treaty; published 5 Dec 2002, International
Publication No. WO 02/097582.
The PowerAuctionTM software system
utilizes some aspects of these patented technologies, and other aspects
are currently under development.
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