Dynamic Contract Trading in Spectrum Markets

We propose a structured spectrum market and consider two basic types of spectrum contracts that can help attain desired flexibilities and trade-offs in terms of service quality, spectrum usage efficiency and pricing: long-term guaranteed-bandwidth contracts, and short-term opportunistic-access contr...

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Veröffentlicht in:IEEE transactions on automatic control Jg. 59; H. 10; S. 2856 - 2862
Hauptverfasser: Kasbekar, G. S., Sarkar, S., Kar, K., Muthuswamy, P. K., Gupta, A.
Format: Journal Article
Sprache:Englisch
Veröffentlicht: New York IEEE 01.10.2014
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Schlagworte:
Automatic control
Bandwidth
Contracts
Cost engineering
Demand
Dynamic programming
Dynamics
Electronic mail
Heuristic algorithms
Markets
Portfolios
Pricing
Probability
Quality
Spectrum allocation
portfolio optimization
Contract trading
stochastic dynamic programming
spectrum markets
ISSN:0018-9286, 1558-2523
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Zusammenfassung:We propose a structured spectrum market and consider two basic types of spectrum contracts that can help attain desired flexibilities and trade-offs in terms of service quality, spectrum usage efficiency and pricing: long-term guaranteed-bandwidth contracts, and short-term opportunistic-access contracts. A primary provider (seller) and a secondary provider (buyer) creates and maintains a portfolio composed of an appropriate mix of these two types of contracts. We address the question of how the spectrum contract portfolio of a seller (buyer) in the spectrum market should be dynamically adjusted, so as to maximize return (minimize cost) subject to meeting the bandwidth demands of its own subscribers. We formulate the above question as a stochastic dynamic programming problem, and obtain structural properties of the optimal dynamic trading strategy that takes into account the current market prices of the contracts and the subscriber demand process in the decision-making.
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ISSN:0018-9286
1558-2523
DOI:10.1109/TAC.2014.2317300