Fair On-line Auctions Without Special Trusted Parties

Abstract

Traditional face-to-face (English) auctions rely on the auctioneer to fairly interact with bidders to accept the highest bid on behalf of the seller. On-line auctions also require fair negotiation. However, unlike face-to-face auctions, on-line auctions are inherently subject to attacks because the bidders and auctioneer are not co-present. These attacks include selectively blocking bids based on the bidder and amount and selectively closing the auction after a particular bid is received. In this paper, the authors present an on-line English auction in which bids are processed fairly and the auction closes fairly without specialized trusted parties (i.e., there is no need to trust the auctioneer to obtain a fair outcome to the auction).

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Document Details

Document Type
Technical Report
Publication Date
Feb 01, 1999
Accession Number
ADA465695

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  • Paul Syverson
  • Stuart G. Stubblebine

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  • United States Naval Research Laboratory

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