SYSTEMS AND METHODS FOR TRADING CONTINGENCY BASED OPTIONS AND FUTURES FOR A TRAVEL-RELATED ITEM
Disclosed herein are methods and systems for establishing a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire a travel-related item. The contract may be exercisable upon occurrence of a contingency and tradable in an online marketplace. In some instances, the contract may be exercisable upon future existence of the travel-related item, occurrence of a weather condition, or the outcome of a contest, any of which may be uncertain at the time of the purchase and sale of the contract.
1 . A method of electronic commerce, comprising:
establishing a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire a travel-related item, the contract being exercisable upon occurrence of a contingency, wherein the contract is tradable in an online marketplace.
2 . The method of claim 1 , wherein the contract obligates the purchaser to acquire the travel-related item upon occurrence of the contingency.
3 . The method of claim 2 , wherein the purchaser is automatically billed for the travel-related item upon occurrence of the contingency.
4 . The method of claim 1 , wherein the contract obligates the contract provider to provide the travel-related item upon occurrence of the contingency.
5 . The method of claim 1 , wherein the contract is tradable for a different contract.
6 . The method of claim 1 , wherein the contract is tradable for a payment.
7 . The method of claim 1 , wherein the travel-related item is at least one of a hotel accommodation, and airline ticket, and a car rental.
8 . The method of claim 1 , wherein the contingency relates to the future existence of the travel-related item.
9 . The method of claim 1 , wherein the contingency relates to an outcome of a contest.
10 . The method of claim 1 , wherein the contingency relates to a weather condition.
11 . A system of electronic commerce, comprising:
a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire a travel-related item, the contract being exercisable upon occurrence of a contingency, wherein the contract is tradable in an online marketplace.
12 . The system of claim 11 , wherein the contract obligates the purchaser to acquire the travel-related item upon occurrence of the contingency.
13 . The system of claim 12 , wherein the purchaser is automatically billed for the travel-related item upon occurrence of the contingency.
14 . The system of claim 11 , wherein the contract obligates the contract provider to provide the travel-related item upon occurrence of the contingency.
15 . The system of claim 11 , wherein the contract is tradable for a different contract.
16 . The system of claim 11 , wherein the contract is tradable for a payment.
17 . The system of claim 11 , wherein the travel-related item is at least one of a hotel accommodation, and airline ticket, and a car rental.
18 . The system of claim 11 , wherein the contingency relates to the future existence of the travel-related item.
19 . A system of electronic commerce, comprising:
a network-based system for purchase and sale of at least one of an option contract and a futures contract to acquire a travel accommodation, the contract being exercisable upon availability of the travel accommodation, wherein the availability of the travel accommodation is uncertain at the time of the purchase and sale.
20 . The system of claim 19 , wherein the contract is tradable in an online marketplace.