Standards and Verification for Fair-Exchange and Atomicity in E-Commerce Transactions

Information Sciences, Vol. 176, pp. 1045-1066, 2006

28 Pages Posted: 14 Feb 2005 Last revised: 25 Aug 2009

See all articles by Bonnie Anderson

Bonnie Anderson

Brigham Young University - School of Accountancy

James V. Hansen

Brigham Young University - School of Accountancy

Paul Benjamin Lowry

Virginia Tech - Pamplin College of Business

Scott L. Summers

Brigham Young University - School of Accountancy

Abstract

Electronic commerce can be defined as the conduct of commerce in goods and services, with the assistance of telecommunications and telecommunications-based tools. The economic growth potential of e-commerce is extraordinary - but so are the challenges that lie on the path toward success. One of the more pressing challenges is how to ensure the integrity and reliability of the transaction process: key aspects being fair-exchange and atomicity assurance.

This paper delineates an extended fair-exchange standard, which includes atomicity assurance, intended for a wide audience including e-commerce designers, managers, users, and auditors. We demonstrate how such a standard prevents or mitigates important e-commerce concerns. To bridge theory with practice, we illustrate how the application of model checking can be used to verify the correctness of the implementation of e-commerce protocols to prevent the failure of such protocols when unforeseen circumstances occur.

Keywords: e-Business, e-commerce, protocols, model checking, money atomicity, goods atomicity, valid receipt, standards enforcement

Suggested Citation

Anderson, Bonnie and Hansen, James V. and Lowry, Paul Benjamin and Summers, Scott L., Standards and Verification for Fair-Exchange and Atomicity in E-Commerce Transactions. Information Sciences, Vol. 176, pp. 1045-1066, 2006, Available at SSRN: https://ssrn.com/abstract=666166

Bonnie Anderson

Brigham Young University - School of Accountancy ( email )

Provo, UT 84602
United States

James V. Hansen

Brigham Young University - School of Accountancy ( email )

Provo, UT 84602
United States

Paul Benjamin Lowry (Contact Author)

Virginia Tech - Pamplin College of Business ( email )

1016 Pamplin Hall
Blacksburg, VA 24061
United States

Scott L. Summers

Brigham Young University - School of Accountancy ( email )

516 TNRB
Provo, UT 84602
United States
801-422-9790 (Phone)
801-422-0621 (Fax)

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