Price-Based Resource Allocation for Edge Computing: A Market Equilibrium Approach

Duong Tung Nguyen, Long Bao Le, Vijay Bhargava

Research output: Contribution to journalArticlepeer-review

12 Scopus citations

Abstract

The emerging edge computing paradigm promises to deliver superior user experience and enable a wide range of Internet of Things (IoT) applications. In this paper, we propose a new market-based framework for efficiently allocating resources of heterogeneous capacity-limited edge nodes (EN) to multiple competing services at the network edge. By properly pricing the geographically distributed ENs, the proposed framework generates a market equilibrium (ME) solution that not only maximizes the edge computing resource utilization but also allocates optimal resource bundles to the services given their budget constraints. When the utility of a service is defined as the maximum revenue that the service can achieve from its resource allotment, the equilibrium can be computed centrally by solving the Eisenberg-Gale (EG) convex program. We further show that the equilibrium allocation is Pareto-optimal and satisfies desired fairness properties including sharing incentive, proportionality, and envy-freeness. Also, two distributed algorithms, which efficiently converge to an ME, are introduced. When each service aims to maximize its net profit (i.e., revenue minus cost) instead of the revenue, we derive a novel convex optimization problem and rigorously prove that its solution is exactly an ME. Extensive numerical results are presented to validate the effectiveness of the proposed techniques.

Original languageEnglish (US)
Article number8373684
Pages (from-to)302-317
Number of pages16
JournalIEEE Transactions on Cloud Computing
Volume9
Issue number1
DOIs
StatePublished - Jan 1 2021
Externally publishedYes

Keywords

  • Fisher market
  • Market equilibrium
  • algorithmic game theory
  • edge computing
  • fairness
  • fog computing

ASJC Scopus subject areas

  • Software
  • Information Systems
  • Hardware and Architecture
  • Computer Science Applications
  • Computer Networks and Communications

Fingerprint Dive into the research topics of 'Price-Based Resource Allocation for Edge Computing: A Market Equilibrium Approach'. Together they form a unique fingerprint.

Cite this