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Secure Vickrey auctions without threshold trust

Lipmaa, H.; Asokan, N.; Niemi, V.; (2003) Secure Vickrey auctions without threshold trust. In: Blaze, M., (ed.) Financial Cryptography. (pp. pp. 87-101). Springer Verlag: Berlin/ Heidelberg, Germany.

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We argue that threshold trust is not an option in most of the real-life electronic auctions. We then propose two new cryptographic Vickrey auction schemes that involve, apart from the bidders and the seller S, an auction authority A so that unless 5 and A collude the outcome of auctions will be correct, and moreover, S will not get any information about the bids, while A will learn bid statistics. Further extensions make it possible to decrease damage that colluding S and A can do, and to construct (m + l)st price auction schemes. The communication complexity between the S and A in medium-size auctions is at least one order of magnitude less than in the Naor-Pinkas-Sumner scheme.

Type:Proceedings paper
Title:Secure Vickrey auctions without threshold trust
Publisher version:http://dx.doi.org/10.1007/3-540-36504-4_7
Additional information:6th International Conference, FC 2002 Southampton, Bermuda, March 2002 Revised Papers
Keywords:Cryptographic auction schemes, homomorphic encryption, range proofs, Vickrey auctions
UCL classification:UCL > School of BEAMS > Faculty of Engineering Science > Adastral Park

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