Decentralized auction-based pricing with PeerMart

Auction-based pricing mechanisms offer the flexibility of setting prices for goods dynamically and efficiently based on current supply and demand. This paper presents PeerMart, a new mechanism which combines the economic efficiency of auction-based pricing with the technical performance and resilience of P2P networks. PeerMart supersedes the need for a central auctioneer by distributing broker functionality over all peers in the network. A structured and redundant P2P overlay network design is applied to achieve scalability and robustness even in the presence of malicious peers.