Abstract

Auction theories are believed to provide a better selling opportunity for the resources to be allocated. Various organizations have took measures to increase trust among  participants towards their auction system, but trust alone cannot ensure a high level of participation. We propose a new type of auction system which takes advantage of lucky draw and gambling addictions to increase the engagement level of candidates in an auction. Our system makes use of security features present in existing auction systems for ensuring fairness and maintaining trust among participants.

Keywords: Auction system, Lucky draw, Gambling addiction, Auction addiction