Fair On-Line Auctions without Special Trusted Parties
Traditional face-to-face (English) auctions rely on the auc- tioneer to fairly interact with bidders to accept the highest bid on be- half 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 copresent. These at- tacks include selectively blocking bids based on the bidder and amount and selectively closing the auction after a particular bid is received.
In this paper, we present an on-line English auction in which bids are processed fairly and the auction closes fairly without specialized trusted parties. In particular, there is no need to trust the auctioneer to obtain a fair outcome to the auction.
KeywordsExpiration Time Chain Element English Auction Auction Design Timeout Interval
Unable to display preview. Download preview PDF.
- 1.Certmail: The Certified Electronic Mail System., http://www.certmail.com.
- 3.L. Cottrell. “Mixmaster and Remailer Attacks”, http://obscura.obscura.com/~loki/remailer/remailer-essay.html. Note: Mixmaster remailers are based on the original mix design of Chaum .
- 4.S. Feldman. “Research Directions in Electronic Commerce”, Keynote address to the 3rd USENIX Workshop on Electronic Commerce, Boston, Mass. September 1998.Google Scholar
- 7.M. Kumar and S. Feldman. “Internet Auctions”, 3 rd USENIX Workshop on Electronic Commerce, Boston, Mass. September 1998, pp. 49–60.Google Scholar
- 8.M. Harkavy, J.D. Tygar and H. Kikuchi. “Electronic Auctions with Private Bids”, 3 rd USENIX Workshop on Electronic Commerce, Boston, Mass. September 1998, pp. 61–73.Google Scholar
- 9.R.P. McAfee and J. McMillan, “Auctions and Bidding”, Journal of Economic Literature, Vol 25, No. 2, June 1987, pp. 699–738.Google Scholar
- 10.Netdox, Inc., http://www.netdox.com.
- 12.R. Rivest, A. Shamir, and D. Wagner. Time-lock puzzles and timed-release Crypto. Unpublished manuscript, February, 1996.Google Scholar
- 13.P. Sanders, S. Rhodes, and A. Patel, “Auctioning by Satellite using Trusted Third Party Security Services”, 11 th IFIP conference on Information Security, 1995, pp. 205–219.Google Scholar
- 14.B. Schneier. Applied Cryptography, Second Edition: Protocols, Algorithms and Source Code in C, John Wiley and Sons, 1996.Google Scholar
- 15.S.G. Stubblebine, P.F. Syverson, and D.M. Goldschlag, “Unlinkable Serial Transactions: Protocols and Applications”, forthcoming in ACM Transactions on Information and System Security, November 1999. (A preliminary version of this paper appears in .)Google Scholar
- 16.Surety Technologies, Inc., http://www.surety.com.
- 17.P. Syverson. “Weakly Secret Bit Commitment: Applications to Lotteries and Fair Exchange”, 1998 IEEE Computer Security Foundations Workshop (CSFW11), Rockport Mass. June 1998, pp. 2–13.Google Scholar
- 18.P.F. Syverson, S.G. Stubblebine, and D.M. Goldschlag, “Unlinkable Serial Transactions”, in Financial Cryptography: FC’ 97, Proceedings, R. Hirschfeld (ed.), Springer-Verlag, LNCS vol. 1318, pp. 39–55, 1998.Google Scholar
- 19.E. Turban. Auctions and bidding on the internet: An assessment. International Journal of Electronic Markets, 7(4), 1997, http://www.electronicmarkets.org.
- 20.P. Wayner. Digital Timestamps: Punching an Electronic Clock, The New York Times on the Web: CyberTimes, Jan. 10, 1999, http://www.nytimes.com/library/tech/99/01/cyber/articles/10notary.html.
- 21.http://swww.auctioninsider.com/every.html (List of almost a hundred on-line auction houses.)