Electronic auctions with private bids

  • Authors:
  • Michael Harkavy;J. D. Tygar;Hiroaki Kikuchi

  • Affiliations:
  • Carnegie Mellon University, Pittsburgh, PA;Carnegie Mellon University, Pittsburgh, PA;Tokai University, Hiratsuka, Kanagawa, Japan

  • Venue:
  • WOEC'98 Proceedings of the 3rd conference on USENIX Workshop on Electronic Commerce - Volume 3
  • Year:
  • 1998

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Abstract

Auctions are a fundamental electronic commerce technology. We describe a set of protocols for performing sealed-bid electronic auctions which preserve the privacy of the submitted bids using a form of secure distributed computation. Bids are never revealed to any party, even after the auction is completed. Both first-price and second-price (Vickrey) auctions are supported, and the computational costs of the methods are low enough to allow their use in many real-world auction situations.