Sealed-Bid auction is an efficient and rational method to
establish the price in open market. However sealed-bid auctions are sub-
ject to bid-rigging attack. Receipt-free mechanisms were proposed to
prevent bid-rigging. The prior receipt-free mechanisms are based on two
assumptions; firstly, existence of untappable channel between bidders
and auction authorities. Secondly, mechanisms assume the authorities
to be honest (not colluding). Moreover the bandwidth required to com-
municate the receipt-free bids is huge. This paper presents a sealed-bid
auction mechanism to resist bid-rigging. The proposed method does not
assume untappable channel nor consider the authorities to be necessarily
honest. The proposed mechanism also manages the bandwidth efficiently,
and improves the performance of the system.
↧