Abstract. An off-line electronic cash scheme is proposed that is suitable for small payments. The approach is innovative, in that each coin may be efficiently verified by the same or different merchants during payment. The scheme relies on a batch signature technique to efficiently sign and verify

protections of investors, with German- and Scandinavian-civil-law countries located in the mid-dle. We also find that concentration of ownership of shares in the largest public companies is negatively related to investor protec-tions, consistent with the hypothesis that small, diversified share

. This form of contrast is not observed in spin-echo images. Through simulations (9), we have shown that vessels as small as 50 ,um in diameter can be detected in images with a pixel size of 100 pum. We have also demonstrated that the size of the susceptibility-induced local field depends on (i

. This note considers the application of electronic cash to transactions in which many small amounts must be paid to the same payee and in which it is not possible to just pay the total amount afterwards. The most notable example of such a transaction is payment for phone calls. If currently

1 Introduction We present two simple micropayment schemes, "PayWord " and "MicroMint, " for making small purchases over the Internet. We were inspired to work on this problem by DEC's "Millicent " scheme[10]. Surveys of some electronic

. The evidence is consistent with increases in market power from some types of consolidation; improvements in profit efficiency and diversification of risks, but little or no cost efficiency improvements on average; relatively little effect on the availability of services to small customers; potential

We introduce a game-theoretic setting for routing in a mobile ad hoc network that consists of greedy, selfish agents who accept payments for forwarding data for other agents if the payments cover their individual costs incurred by forwarding data. In this setting, we propose Ad hoc-VCG, a reactive

. An important type of electronic payment system is analyzed in this paper. It is widely considered to have a variety of practical applications. Such kind of scheme handles a sequence of very small payments which therefore should be quite efficient to be payed and verified. A micro-payment scheme

it possible to make small payment through electronic communication networks. In this paper, we propose a simple and secure micro-payment system which can be used for purchasing information goods on the network. The new micro-payment system is developed using a tamper-resistant device (i.e., smart card

Micro-payments are payments too small in amount to warrant the overhead costs of current financial clearing networks. Furthermore one can expect that content servers for the global information infrastructure (GII) will have to process so many of these low value transactions that computationally