Dynamic Pricing for Resource-Quota Sharing in Multi-Access Edge Computing

Marie Siew, Desmond Cai, Lingxiang Li, Tony Q.S. Quek

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)

Abstract

In this paper, we analyze resource allocation in Multi-Access Edge Computing (MEC) from the perspective of revenue and profit management. Current coarse-grained pricing and resource plans have not made full use of the extreme heterogeneity of computing usage levels across users in the Internet of Everything (IoE), leading to wastage. Some users would have excess un-utilized resource quota while others might have reserved insufficient resources. Therefore, we introduce a novel sharing economy-inspired business model, following the trend towards the decentralized provision and sharing of digital resources. In our model, a platform facilitates the sharing of excess resource quota among users, leading to a more efficient usage of resources. Based on our model, we design and analyse two dynamic pricing mechanisms for resource quota sharing, which maximizes the social welfare or profit of the platform respectively. In our dynamic pricing mechanisms, the platform coordinates the sharing of compute resource quota in real-time, without knowledge of users' payoffs or control over users' decisions. We prove the optimality and convergence of the proposed mechanisms, and provide simulations to illustrate the convergence and robustness of our mechanisms to changes in demand and supply, as well as provide insights under changes in exogenous conditions.

Original languageEnglish
Article number9119833
Pages (from-to)2901-2912
Number of pages12
JournalIEEE Transactions on Network Science and Engineering
Volume7
Issue number4
DOIs
Publication statusPublished - 2020 Oct 1

All Science Journal Classification (ASJC) codes

  • Control and Systems Engineering
  • Computer Science Applications
  • Computer Networks and Communications

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