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-o. between complexity and what they achieve. They could be particularly useful in mobile e-commerce applications.KeywordsNash EquilibriumGame TheoryAction SequenceRational ExchangeExchange ProtocolThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
