WebBidder™ is DotEcon’s online auction system. It can be used to:
- run high-value online auctions and marketplaces;
- prototype and test auction formats;
- test auction bid strategies; and
- train auction bid teams.
WebBidder has been used by governments in many spectrum auctions worldwide. It has been used for some of the largest global transactions and has raised many billions of pounds of revenue for governments. WebBidder is the result of ten years of continuous development. It is built on a highly configurable platform which can be quickly adapted to different auction strategies, formats and rules, including: simultaneous multiple-round auctions (SMRAs), ascending or descending clock auctions, sealed bid combinatorial auctions and multiple-round combinatorial auctions including the combinatorial clock auction (CCA). WebBidder can implement any plausible set of auction rules, including complex activity rules and different levels of transparency.
The auction software can be deployed over the Internet or private networks. It provides auction bidders with a rich dynamic interface for monitoring multiple-round auctions and making bids that can be accessed using a standard web-browser. It provides real-time updates for bidders and handles all aspects of rules implementation and auction management.
WebBidder is built with the security features needed for high-value auctions. Client connections are encrypted and authentication of individual users is managed through digital certificates and passwords. WebBidder can incorporate digital signatures to avoid later repudiation of auction bids by bidders. Extensive logging of each and every interaction between auction bidders and the auction software guarantees a complete audit trail. Real-time diagnostics allows the auctioneer to detect Internet problems that might affect the smooth-running of an auction. Automatic back-up and replication features provide high reliability.
WebBidder incorporates algorithms for winner determination in combinatorial auctions. It can be used to implement core-selecting auctions and has been used for running the combinatorial clock auction format developed by DotEcon for Ofcom in the UK and also some sealed-bid combinatorial auctions.
For further information about WebBidder contact us.