Title:
AN AUTOMATED BARGAINING METHOD USING QUANTIFIED PRICE SIGNALS AS MONETIZABLE POINTS IN A COOPERATIVE NETWORK
Document Type and Number:
WIPO Patent Application WO/2020/100158
Kind Code:
A1
Abstract:
An automated bargaining method using Quantified Price Signals (QPS) as monetizable points for processing a negotiation between a customer (122) and a merchant (124) in a price signal network (100) (PSN) discloses, a process for receiving "reserve price" and "posted price" for each product (102) along with the access to the historical "Seller Signal Patterns" (108) of the merchant (124) to calculate the Merchant Price Sensitivity Score (PSS(m)) (112). Further, the method discloses a process for receiving interest form customer (114) along with access to the historical "Buyer Signal Patterns" (118) for the customer to calculate Customer Price Sensitivity Score (PSS(c)) (120). In one embodiment, the PSN (100) automatically calculates the "Final posted price" (130) of the product which is in equilibrium between the "posted price" and "reserve price" of the product and based on the PSS(m) (112) and PSS(c) (120).
Inventors:
BHASKARAN RAJESH (IN)
Application Number:
PCT/IN2019/050824
Publication Date:
May 22, 2020
Filing Date:
November 07, 2019
Export Citation:
Assignee:
BHASKARAN RAJESH (IN)
International Classes:
G06Q30/06
Foreign References:
| US20140244421A1 | 2014-08-28 | |||
| US20030004821A1 | 2003-01-02 |
Attorney, Agent or Firm:
S, Priyadarsini (IN)
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