2015/10/23 by Dusit Niyato, D. Niyato, Xuequan Lu +11
Business, Management and Accounting · Computer Science · Decision Sciences · Engineering · #Auction Theory and Applications #Digital Platforms and Economics #FOS: Computer and information sciences #ICT Impact and Policies #Networking and Internet Architecture (cs.NI) #cs.NI
paper · pdf · doi:10.48550/arxiv.1510.06837
To appear in IEEE Wireless Communications
arxiv created 2015/10/23 · openalex publication_date 2015/10/23 · arxiv updated 2015/10/26 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
Internet of things (IoT) has been proposed to be a new paradigm of connecting devices and providing services to various applications, e.g., transportation, energy, smart city, and healthcare. In this paper, we focus on an important issue, i.e., economics of IoT, that can have a great impact to the success of IoT applications. In particular, we adopt and present the information economics approach with its applications in IoT. We first review existing economic models developed for IoT services. Then, we outline two important topics of information economics which are pertinent to IoT, i.e., the value of information and information good pricing. Finally, we propose a game theoretic model to study the price competition of IoT sensing services. Some outlooks on future research directions of applying information economics to IoT are discussed.