(M+1)st-Price Auction Protocol (2001)
| Venue: | In Proceedings of Financial Cryptography (FC |
| Citations: | 27 - 0 self |
BibTeX
@INPROCEEDINGS{Kikuchi01(m+1)st-priceauction,
author = {Hiroaki Kikuchi},
title = {(M+1)st-Price Auction Protocol},
booktitle = {In Proceedings of Financial Cryptography (FC},
year = {2001},
pages = {351--363},
publisher = {Springer}
}
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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. 1 Introduction The Internet is a prime vehicle for supporting electronic auction, a primitive pricing mechanism for setting prices. The most common auction style is the open-bid English auction, in which bidders incrementally raise the prices bid for goods until as many winners are left as the number of units of goods. Bidders are required to be watching the current prices, and it usually takes a long time to close ...
