NDLI: Portfolio optimization in secondary spectrum markets

Content Provider	IEEE Xplore Digital Library
Author	Muthuswamy, P.K. Kar, K. Gupta, A. Sarkar, S. Kasbekar, G.
Copyright Year	2011
Description	Author affiliation: Rensselaer Polytechnic Institute Troy, NY 12180, USA (Muthuswamy, P.K.; Kar, K.; Gupta, A.) \|\| University of Pennsylvania Philadelphia, PA 19104, USA (Sarkar, S.; Kasbekar, G.)
Abstract	In this paper, we address the spectrum portfolio optimization (SPO) question in the context of secondary spectrum markets, where bandwidth (spectrum access rights) can be bought in the form of primary and secondary contracts. While a primary contract on a channel provides guaranteed access to the channel bandwidth (possibly at a higher per-unit price), the bandwidth available to use from a secondary contract (possibly at a discounted price) is typically uncertain/stochastic. The key problem for the buyer (service provider) in this market is to determine the amount of primary and secondary contract units needed to satisfy uncertain user demand. We initially consider a single-region problem in which the spectrum contracts are valid only in the single-region in which the buyer wishes to provide service. We formulate the problem as one of minimizing the cost of the spectrum portfolio subject to constraints on bandwidth shortage. Two different forms of bandwidth shortage constraints are considered, namely, the demand satisfaction rate constraint, and the demand satisfaction probability constraint. While the SPO problem under demand satisfaction rate constraint is shown to be convex for all density functions, the SPO problem under demand satisfaction probability constraint is not convex in general. We derive some sufficient conditions for convexity for this case. The SPO problems can therefore be solved efficiently using standard convex optimization techniques. Later, we extend the problem formulation and the convexity results to the multiple-region setting, where the buyer's portfolio is intended to serve a set of disjoint geographical locations, each having its own customer demand. Finally, we perform a thorough simulation-based study of the single-region and the multiple-region problems for different choices of the problem parameters, and provide key insights regarding the portfolio composition and demonstrate the convexity of the efficient frontier. We provide several insights about the scaling behavior of the unit prices of the secondary contracts, as the stochastic characterization of the bandwidth available from secondary contracts change.
Starting Page	249
Ending Page	256
File Size	496660
Page Count	8
File Format	PDF
ISBN	9781612848228
e-ISBN	9781612848242
DOI	10.1109/WIOPT.2011.5930023
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2011-05-09
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Bandwidth Digital signal processing Permission Density functional theory Contracts Portfolios Optimization
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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