### Abstract

We introduce game theory as a formal framework in which exchange protocols can be modeled and their properties can be studied. We use this framework to give a formal definition for rational exchange relating it to the concept of Nash equilibrium in games. In addition, we study the relationship between rational exchange and fair exchange. We prove that fair exchange implies rational exchange, but the reverse is not true. The practical consequence of this is that rational exchange protocols may provide interesting solutions to the exchange problem by representing a trade-off between complexity and what they achieve. They could be particularly useful in mobile e-commerce applications.

Original language | English |
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Title of host publication | Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) |

Publisher | Springer Verlag |

Pages | 114-126 |

Number of pages | 13 |

Volume | 2232 |

ISBN (Print) | 9783540428787 |

Publication status | Published - 2001 |

Event | 2nd International Workshop on Electronic Commerce, WELCOM 2001 in conjunction with the 18th IEEE Symposium on Reliable and Distributed Systems, SRDS 2001 - Heidelberg, Germany Duration: Nov 16 2001 → Nov 17 2001 |

### Publication series

Name | Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) |
---|---|

Volume | 2232 |

ISSN (Print) | 03029743 |

ISSN (Electronic) | 16113349 |

### Other

Other | 2nd International Workshop on Electronic Commerce, WELCOM 2001 in conjunction with the 18th IEEE Symposium on Reliable and Distributed Systems, SRDS 2001 |
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Country | Germany |

City | Heidelberg |

Period | 11/16/01 → 11/17/01 |

### Fingerprint

### ASJC Scopus subject areas

- Computer Science(all)
- Theoretical Computer Science

### Cite this

*Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)*(Vol. 2232, pp. 114-126). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 2232). Springer Verlag.

**Rational exchange – a formal model based on game theory.** / Buttyán, L.; Hubaux, Jean Pierre.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

*Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics).*vol. 2232, Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 2232, Springer Verlag, pp. 114-126, 2nd International Workshop on Electronic Commerce, WELCOM 2001 in conjunction with the 18th IEEE Symposium on Reliable and Distributed Systems, SRDS 2001, Heidelberg, Germany, 11/16/01.

}

TY - GEN

T1 - Rational exchange – a formal model based on game theory

AU - Buttyán, L.

AU - Hubaux, Jean Pierre

PY - 2001

Y1 - 2001

N2 - We introduce game theory as a formal framework in which exchange protocols can be modeled and their properties can be studied. We use this framework to give a formal definition for rational exchange relating it to the concept of Nash equilibrium in games. In addition, we study the relationship between rational exchange and fair exchange. We prove that fair exchange implies rational exchange, but the reverse is not true. The practical consequence of this is that rational exchange protocols may provide interesting solutions to the exchange problem by representing a trade-off between complexity and what they achieve. They could be particularly useful in mobile e-commerce applications.

AB - We introduce game theory as a formal framework in which exchange protocols can be modeled and their properties can be studied. We use this framework to give a formal definition for rational exchange relating it to the concept of Nash equilibrium in games. In addition, we study the relationship between rational exchange and fair exchange. We prove that fair exchange implies rational exchange, but the reverse is not true. The practical consequence of this is that rational exchange protocols may provide interesting solutions to the exchange problem by representing a trade-off between complexity and what they achieve. They could be particularly useful in mobile e-commerce applications.

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UR - http://www.scopus.com/inward/citedby.url?scp=23044530199&partnerID=8YFLogxK

M3 - Conference contribution

AN - SCOPUS:23044530199

SN - 9783540428787

VL - 2232

T3 - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)

SP - 114

EP - 126

BT - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)

PB - Springer Verlag

ER -