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Time Fairness

We assume that SAM has an internal clock with a small drift rate and cannot be altered without authorization. The sellers, bidders and processors within the SAM have a way to synchronize their clocks with each other. The SAM controls the opening time and closing time for the auction. Hence, everybody experiences the same opening time and closing time.

Furthermore, on-line English or Dutch auction usually have the unfairness that different bidders experience different network delay time. By using SAM, we can eliminate this unfairness. Bidders can submit their strategies into SAM during the bidding time and then, the strategies are evaluated using the English or Dutch auction fashion. Because the strategies are already inside SAM, no network delay time interferes during evaluation time.

Moreover, some major exchanges tried to address time fairness problems by shipping announcements encrypted to trusted machines at geographically distributed sites; these machines then ensure that announcements are publicly revealed at the same real time. We can adopt and extend this technique in distributed SAM marketplaces, where appropriate.


next up previous
Next: Opportunity Fairness Up: Properties Previous: Information Fairness:

Adrian Perrig
Tue Jan 23 20:35:17 PST 2001