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SWIM: Social Welfare Maximizing Incentive Mechanism for Smart Meter Data Aggregation

Authors:
Duin Back
Bongjun Choi

Keywords: Smart Meter; Incentive; Data Aggregation; Social Welfare.

Abstract:
In spite of many benefits, e.g., energy and communication cost efficient data aggregation, in-network data aggregation network in the smart meter network involves some smart meters acting as relays. Unlike wireless sensor networks (WSNs), the aggregator in the smart meter network cannot assign smart meters as a relay at its will, unless it properly rewards them. Therefore, to encourage users to contribute their smart meters to be used as relays, we introduce an incentive mechanism for the smart meter data aggregation. Unlike the existing incentive mechanisms where the value of completing a requested task is assumed to be fixed regardless of who takes the requested task, we formulate the winner selection problem by incorporating an additional value that depends on who takes the task. Based on the additional value, called “derivative value”, we propose a Social Welfare maximizing Incentive Mechanism (SWIM) for the smart meter data aggregation. SWIM not only encourages users to contribute their smart meters to be used as relays by rewarding them with incentives, but also enhances overall satisfaction of participating smart meters by maximizing the social welfare of the system. Simulation results show that SWIM achieves better social welfare of the system and utility of the aggregator compared with the existing incentive mechanisms.

Pages: 42 to 48

Copyright: Copyright (c) IARIA, 2016

Publication date: July 24, 2016

Published in: conference

ISSN: 2519-8483

ISBN: 978-1-61208-524-1

Location: Nice, France

Dates: from July 24, 2016 to July 28, 2016