TY - GEN
T1 - Truthful online auctions for pricing peer-to-peer services
AU - Chen, Po-An
AU - Chuang, Tyng Ruey
PY - 2005
Y1 - 2005
N2 - We consider truthful online auctions that aim at optimizing sellers' revenues, representing service contributors' satisfactions, as a general model for pricing peer-to-peer services under the assumption of individual service consumer's rationality. For services that are in unlimited supply, we design a randomized truthful online auction with guaranteed revenue based on a randomized truthful offline auction. It is shown that the expected revenue extracted by our truthful online auction over all random factors achieves a Θ(1) approximation ratio relative to the optimal single-price revenue under some reasonable assumption about the input bids. Since a peer must serve others to earn sufficient revenue that can cover its payment for being served, we argue that our online truthful auctions can be suitable schemes for incentivizing peer nodes in peer-to-peer systems to share, and thereby addressing the "free-rider" problem in peer-to-peer service sharing.
AB - We consider truthful online auctions that aim at optimizing sellers' revenues, representing service contributors' satisfactions, as a general model for pricing peer-to-peer services under the assumption of individual service consumer's rationality. For services that are in unlimited supply, we design a randomized truthful online auction with guaranteed revenue based on a randomized truthful offline auction. It is shown that the expected revenue extracted by our truthful online auction over all random factors achieves a Θ(1) approximation ratio relative to the optimal single-price revenue under some reasonable assumption about the input bids. Since a peer must serve others to earn sufficient revenue that can cover its payment for being served, we argue that our online truthful auctions can be suitable schemes for incentivizing peer nodes in peer-to-peer systems to share, and thereby addressing the "free-rider" problem in peer-to-peer service sharing.
UR - http://www.scopus.com/inward/record.url?scp=33749050616&partnerID=8YFLogxK
U2 - 10.1109/ICECT.2005.100
DO - 10.1109/ICECT.2005.100
M3 - Conference contribution
AN - SCOPUS:33749050616
SN - 0769522777
SN - 9780769522777
T3 - Proceedings - Seventh IEEE International Conference on E-Commerce Technology, CEC 2005
SP - 59
EP - 66
BT - Proceedings - Seventh IEEE International Conference on E-Commerce Technology, CEC 2005
T2 - 7th IEEE International Conference on E-Commerce Technology, CEC 2005
Y2 - 19 July 2005 through 22 July 2005
ER -