Information service pricing competition in Internet-of-Vehicle (IoV)

In this work, we address the problem of service pricing competition in Internet-of-Vehicle (IoV) networks where multiple service providers compete with each other to offer vehicular services to users. We first introduce IoV networks and then develop an economic model for the competitive pricing problem among service providers through using the Bertrand game model. With the Bertrand game, we find the offered prices for providers at the Nash equilibrium. Then, we analyze the impact of parameters on the offered prices. Furthermore, due to the inefficiency of the Nash equilibrium to the profits of service providers, we propose using a repeated game model with the aim to establish a cooperation among providers such that their profits can be improved. The simulation results demonstrate the efficiency of the proposed repeated game model as well as conditions to maintain the cooperation among providers.