Cooperative IoT Data Sharing with Heterogeneity of Participants Based on Electricity Retail

With the development of Internet of Things (IoT) and big data technology, the data value is increasingly explored in multiple practical scenarios, including electricity transactions. However, the isolation of IoT data among several entities makes it difficult to achieve optimal allocation of data resources and convert data resources into real economic value, thus it is necessary to introduce the IoT data sharing mode to drive data circulation. To enhance the accuracy and fairness of IoT data sharing, the heterogeneity of participants is sufficiently considered, and data valuation and profit allocation in IoT data sharing are improved based on the background of electricity retail. Data valuation is supposed to be relevant to attributes of IoT data buyers, thus risk preferences of electricity retailers are applied as characteristic attributes and data premium rates are proposed to modify data value rates. Profit allocation should measure the marginal contribution shares of electricity retailers and data brokers fairly, thus asymmetric Nash bargaining model is used to guarantee that they could receive reasonable profits based on their specific contribution to the coalition of IoT data sharing. Considering the heterogeneity of participants comprehensively, the proposed IoT data sharing fits for a large coalition of IoT data sharing with multiple electricity retailers and data brokers. Finally, to demonstrate the applications of IoT data sharing in smart grids, case studies are utilized to validate the results of data value for electricity retailers with different risk preferences and the efficiency of profit allocation using asymmetric Nash bargaining model.