Related papers: Mobile Data Trading: Behavioral Economics Analysis…
To exploit users' heterogeneous data demands, several mobile network operators worldwide have launched the mobile data trading markets, where users can trade mobile data quota with each other. In this paper, we aim to understand the…
Users can now give back energies to the grid using distributed resources. Proper incentive mechanisms are required for such users, also known as prosumers, in order to maximize the sell-back amount while maintaining the retailer's profit.…
In this paper, we study a virtual wireless operator's spectrum investment problem under spectrum supply uncertainty. To obtain enough spectrum resources to meet its customer demands, the virtual operator can either sense for the temporarily…
Mobile Network Operators (MNOs) are providing more flexible wireless data services to attract subscribers and increase revenues. For example, the data trading market enables user-flexibility by allowing users to sell leftover data to or buy…
In this paper, we consider a recent cellular network connection paradigm, known as user-provided network (UPN), where users share their connectivity and act as an access point for other users. To incentivize user participation in this…
This paper provides a framework to quantify the sensitivity associated with behavioral models based on Cumulative Prospect Theory (CPT). These are used to design dynamic pricing strategies aimed at maximizing performance metrics of the…
Prospect theory is widely viewed as the best available descriptive model of how people evaluate risk in experimental settings. According to prospect theory, people are risk-averse with respect to gains and risk-seeking with respect to…
Cumulative Prospect Theory (CPT) is a modeling tool widely used in behavioral economics and cognitive psychology that captures subjective decision making of individuals under risk or uncertainty. In this paper, we propose a dynamic pricing…
Electricity price forecasting supports decision-making in energy markets and asset operation. Probabilistic forecasts are increasingly adopted to explicitly quantify uncertainty, typically issued as quantile predictions or ensembles of the…
The widespread adoption of distributed energy resources, and the advent of smart grid technologies, have allowed traditionally passive power system users to become actively involved in energy trading. Recognizing the fact that the…
The $\textit{data market design}$ problem is a problem in economic theory to find a set of signaling schemes (statistical experiments) to maximize expected revenue to the information seller, where each experiment reveals some of the…
An important but understudied question in economics is how people choose when facing uncertainty in the timing of events. Here we study preferences over time lotteries, in which the payment amount is certain but the payment time is…
We study the impact of end-user behavior on service provider (SP) bidding and user/network association in a HetNet with multiple SPs while considering the uncertainty in the service guarantees offered by the SPs. Using Prospect Theory (PT)…
Bitcoin is firmly becoming a mainstream asset in our global society. Its highly volatile nature has traders and speculators flooding into the market to take advantage of its significant price swings in the hope of making money. This work…
The most commonly accepted model for investors' preferences is expected utility theory. More recently, other theories have emerged and pose new challenges to mathematics. The present paper treats preferences of cumulative prospect theory…
Understanding how humans respond to uncertainty is critical for designing safe and effective physical human-robot interaction (pHRI), as physically working with robots introduces multiple sources of uncertainty, including trust, comfort,…
Advances in cognitive radio networks have primarily focused on the design of spectrally agile radios and novel spectrum sharing techniques that are founded on Expected Utility Theory (EUT). In this paper, we consider the development of…
Mobile inventory, mobile commerce, banking and/or commercial applications are some distinctive examples that increasingly use distributed transactions. It is inevitably harder to design efficient commit protocols, due to some intrinsic…
Most work in mechanism design assumes that buyers are risk neutral; some considers risk aversion arising due to a non-linear utility for money. Yet behavioral studies have established that real agents exhibit risk attitudes which cannot be…
We study Merton's expected utility maximization problem in an incomplete market, characterized by a factor process in addition to the stock price process, where all the model primitives are unknown. The agent under consideration is a price…