(M+1)st-Price Auction Protocol

  • Authors:
  • Hiroaki Kikuchi

  • Affiliations:
  • -

  • Venue:
  • FC '01 Proceedings of the 5th International Conference on Financial Cryptography
  • Year:
  • 2002

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Abstract

This paper presents a new protocol for M + 1st-price auction, a style of auction in which the highest M bidders win and pay a uniform price, determined by the (M +1)st price. A set of distributed servers collaborates to resolve the (M +1)st price without revealing any information in terms of bids including the winners' bids. A new trick to jointly and securely compute the highest value as a degree of distributed polynomials is introduced. The building block requires just one round for bidders to cast bids and one round for auctioneers to determine the winners.