TY - JOUR
T1 - Risk Optimization for Revenue-Driven Wireless Video Broadcasting Systems
T2 - A Copula-Based Framework
AU - Ji, Wen
AU - Poor, H. Vincent
N1 - Funding Information:
This work was supported in part by the National Key R&D Program of China under Grant 2017YFB1400100, in part by the National Natural Science Foundation of China under Grant 61572466, in part by the BeijingNatural Science Foundation underGrant 4202072, and in part by the U.S. National Science Foundation under Grants CCF-0939370 and CCF-1908308.
Funding Information:
Manuscript received August 27, 2019; revised February 19, 2020 and May 25, 2020; accepted May 29, 2020. Date of publication June 15, 2020; date of current version May 26, 2021. This work was supported in part by the National Key R&D Program of China under Grant 2017YFB1400100, in part by the National Natural Science Foundation of China under Grant 61572466, in part by the Beijing Natural Science Foundation under Grant 4202072, and in part by the U.S. National Science Foundation under Grants CCF-0939370 and CCF-1908308. The associate editor coordinating the review of this manuscript and approving it for publication was Mea Wang. (Corresponding author: Wen Ji.) Wen Ji is with the Beijing Key Laboratory of Mobile Computing and Pervasive Device, Institute of Computing Technology, Chinese Academy of Sciences, Beijing 100190, China, and also with Peng Cheng Laboratory, Shenzhen 518055, China (e-mail: jiwen@ict.ac.cn).
Publisher Copyright:
© 1999-2012 IEEE.
PY - 2021
Y1 - 2021
N2 - The revenue of wireless service providers (WSPs) relies on their ability to efficiently satisfy the variable demands from end users (EUs). However, emerging video services create new risks owing to the diverse content requirements of heterogeneous EUs operating in uncertain markets. It is challenging as the risks created by demands and prices are highly uncertain. In this work, a risk problem of high revenues is studied in which multiple video content items with different prices are broadcast to wireless EUs. The video content prices differ in their value functions in terms of popularity, ratings, and types. The objective is to maximize the revenue of WSPs under a certain Value-at-Risk (VaR) by adjusting the content prices and allocation of bandwidth resources. Furthermore, a VaR-based optimization framework for wireless video broadcasting systems is presented. First, the content characteristics are analyzed, and a copula model is then used to build the content value structure. The copula of a multivariate distribution corresponds to the description of the price-dependent structure. Second, a risk analysis for the effects of price fluctuations on revenues caused by uncertainty is conducted. A VaR model is associated with changes in the prices and allocated rates. Copulas are used to derive a bound on the VaR for functions of dependent risks. Subsequently, detailed representations are provided to identify the distributional bounds for revenue functions of dependent risks. Lastly, a VaR-based framework that optimizes pricing and bandwidth provision is presented. For the solution, the risk regions of WSPs are modeled as polymatroidal structures to minimize the risk caused by different service demands and variable market prices. Experiments on different price markets demonstrated that the proposed method is effective, thereby verifying the feasibility of the proposed method.
AB - The revenue of wireless service providers (WSPs) relies on their ability to efficiently satisfy the variable demands from end users (EUs). However, emerging video services create new risks owing to the diverse content requirements of heterogeneous EUs operating in uncertain markets. It is challenging as the risks created by demands and prices are highly uncertain. In this work, a risk problem of high revenues is studied in which multiple video content items with different prices are broadcast to wireless EUs. The video content prices differ in their value functions in terms of popularity, ratings, and types. The objective is to maximize the revenue of WSPs under a certain Value-at-Risk (VaR) by adjusting the content prices and allocation of bandwidth resources. Furthermore, a VaR-based optimization framework for wireless video broadcasting systems is presented. First, the content characteristics are analyzed, and a copula model is then used to build the content value structure. The copula of a multivariate distribution corresponds to the description of the price-dependent structure. Second, a risk analysis for the effects of price fluctuations on revenues caused by uncertainty is conducted. A VaR model is associated with changes in the prices and allocated rates. Copulas are used to derive a bound on the VaR for functions of dependent risks. Subsequently, detailed representations are provided to identify the distributional bounds for revenue functions of dependent risks. Lastly, a VaR-based framework that optimizes pricing and bandwidth provision is presented. For the solution, the risk regions of WSPs are modeled as polymatroidal structures to minimize the risk caused by different service demands and variable market prices. Experiments on different price markets demonstrated that the proposed method is effective, thereby verifying the feasibility of the proposed method.
KW - VaR
KW - Wireless video broadcasting
KW - copula
KW - polymatroid
KW - revenue
KW - risk
UR - http://www.scopus.com/inward/record.url?scp=85087527266&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85087527266&partnerID=8YFLogxK
U2 - 10.1109/TMM.2020.3002612
DO - 10.1109/TMM.2020.3002612
M3 - Article
AN - SCOPUS:85087527266
SN - 1520-9210
VL - 23
SP - 1757
EP - 1771
JO - IEEE Transactions on Multimedia
JF - IEEE Transactions on Multimedia
M1 - 9117165
ER -