Pricing of risk for loss guaranteed intra-domain internet service contracts

Authors:
Aparna Gupta;Shivkumar Kalyanaraman;Lingyi Zhang
Affiliations:
Decision Sciences and Engineering Systems, Rensselaer Polytechnic Institute, Troy, NY;Electrical, Computer and Systems Engineering, Rensselaer Polytechnic Institute, Troy, NY;Decision Sciences and Engineering Systems, Rensselaer Polytechnic Institute, Troy, NY
Venue:
Computer Networks: The International Journal of Computer and Telecommunications Networking
Year:
2006

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Abstract

The Internet today offers primarily a best-effort service. Research and technology development efforts are currently underway to allow provisioning of better than best-effort Quality of Service (QoS) assurances. The residual uncertainty in QoS can be managed using pricing strategies. In this article, we develop a spot pricing framework for intra-domain expected bandwidth contracts with loss-based QoS guarantees. The framework builds on a nonlinear pricing scheme for cost recovery from earlier work and extends it to price risk. A utility-based options pricing approach is developed to account for the uncertainties in delivering loss guarantees. Application of options pricing techniques in Internet services provides a mechanism for fair risk sharing between the provider and the customer, and may be extended to price other uncertainties in QoS guarantees.