Futures-Based Resource Trading and Fair Pricing in Real-Time IoT Networks

Abstract

We propose a futures-based resource trading scheme via a forward contract to tackle the risk of trading failure and unfairness associated with the on-site negotiation process in facilitating resource sharing in wireless networks. More specifically, the resource requester and the resource owner negotiate a mutually beneficial forward contract in advance, where the agreement between the two parties are based on the historical statistics related to the resource supply and demand. The risk of trading failure is utilized to determine the contract price and resource amount. Spectrum trading between two different service providers is studied as an example and simulation results show that the proposed futures-based resource trading scheme achieves better performance in terms of success rate and fairness compared with the traditional on-site mechanism.