Use of Economic Mechanisms for Digital Goods

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• George D. Stamoulis, Department of Informatics, Athens University of Economics and Business
• Friday 06 June 2014, 15:00-16:00
• EEE Department, Room 611.

If you have a question about this talk, please contact Patrick Kelly.

Economic mechanisms (including pricing, SLAs and auctions), address the incentives of users, who respond to them according to their own best interest. Thus, when appropriately designed, economic mechanisms are a powerful distributed tool for the efficient allocation, management, and trading of network resources (bandwidth, spectrum) and digital goods (content, cloud services, sensor data, NegaWatts in smart grids), and for the management of Internet traffic. In the first part of this talk I will present an overview of the relevant research carried out in the Network Economics and Services (NES) Group (http://nes.cs.aueb.gr/) of AUEB . In the second part I will elaborate on the design of an auction-based marketplace for participatory sensing environments, where each user can both sell and buy sensor information. When acting as a supplier, a user may be reluctant to share his sensors due to costs in transmitting information (battery, bandwidth, etc). Potential buyers may also be reluctant to participate in the market if the prices for the information are prohibitively high. Employing ideas from the cost-sharing literature, three auction-based mechanisms have been developed, each satisfying different properties. These mechanisms will be presented, together with results and conclusions from their simulation-based evaluation.

About the speaker:

George D. Stamoulis (http://nes.aueb.gr/users/gs.html) received the Diploma in Electrical Engineering (1987, with highest honours) from the National Technical University of Athens, Greece, and the MS (1988) and PhD (1991) degrees in Electrical Engineering from the Massachusetts Institute of Technology, Cambridge, Massachusetts, USA . He is a Professor in the Department of Informatics of Athens University of Economics and Business (AUEB). His research interests are in economic and business models for networks and clouds, Internet traffic management, auction mechanisms for bandwidth and digital goods, telecommunications and power regulation, demand response in electricity consumption, and reputation mechanisms for electronic environments. He has been heavily involved in several European projects, including: a) BEinGRID and GridEcon in the area of Grid and Cloud Computing, b) INCEPTION (in progress – supported by National Funding) in participatory sensing. c) SmartenIT (in progress), SmoothIT and ETICS in the area of Future Internet, d) WATTALYST (in progress) in the area of Energy. He has also collaborated several times with the Greek Regulatory Authorities for Communications and Power on regulatory issues and on auction design, as well as with several telecom companies on service pricing, techno-economic and cost analysis of service deployment, design of smart services etc.

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