TY - GEN
T1 - Secure second price auctions with a rational auctioneer
AU - Catane, Boaz
AU - Herzberg, Amir
PY - 2013
Y1 - 2013
N2 - We present novel security requirements for second price auctions and a simple, efficient and practical protocol that provably maintains these requirements. Novel requirements are needed because commonly used requirements, such as the indistinguishability-based secrecy requirement of encryption schemes presented by (Goldwasser and Micali, 1982), do not fit properly in the second price auctions context. Additionally, the presented protocol uses a trustworthy supervisor that checks if the auctioneer deviated from the protocol and fines him accordingly. By making sure the expected utility of the auctioneer when deviating from the protocol is lower than his expected utility when abiding by the protocol we ascertain that a rational auctioneer will abide by the protocol. This allows the supervisor to optimize by performing (computationally- intensive) inspections of the auctioneer with only low probability.
AB - We present novel security requirements for second price auctions and a simple, efficient and practical protocol that provably maintains these requirements. Novel requirements are needed because commonly used requirements, such as the indistinguishability-based secrecy requirement of encryption schemes presented by (Goldwasser and Micali, 1982), do not fit properly in the second price auctions context. Additionally, the presented protocol uses a trustworthy supervisor that checks if the auctioneer deviated from the protocol and fines him accordingly. By making sure the expected utility of the auctioneer when deviating from the protocol is lower than his expected utility when abiding by the protocol we ascertain that a rational auctioneer will abide by the protocol. This allows the supervisor to optimize by performing (computationally- intensive) inspections of the auctioneer with only low probability.
KW - Auctions
KW - Cryptographic auction schemes
KW - Cryptographic protocols
KW - Vickrey auctions
UR - http://www.scopus.com/inward/record.url?scp=84887657949&partnerID=8YFLogxK
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AN - SCOPUS:84887657949
SN - 9789898565730
T3 - ICETE 2013 - 10th International Joint Conference on E-Business and Telecommunications; SECRYPT 2013 - 10th International Conference on Security and Cryptography, Proceedings
SP - 158
EP - 169
BT - ICETE 2013 - 10th International Joint Conference on E-Business and Telecommunications; SECRYPT 2013 - 10th International Conference on Security and Cryptography, Proceedings
T2 - 10th International Conference on Security and Cryptography, SECRYPT 2013 - Part of 10th International Joint Conference on E-Business and Telecommunications, ICETE 2013
Y2 - 29 July 2013 through 31 July 2013
ER -