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Abstracts - 3rd USENIX Workshop on Electronic Commerce
Electronic Auctions with Private Bids
Michael Harkavy and J. D. Tygar
Carnegie Mellon University
Hiroaki Kikuchi
Tokai University
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.
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