Economic Approaches for Cognitive Radio Networks: A Survey

Efficient resource allocation is one of the key concerns of implementing cognitive radio networks. Game theory has been extensively used to study the strategic interactions between primary and secondary users for effective resource allocation. The concept of spectrum trading has introduced a new direction for the coexistence of primary and secondary users through economic benefits to primary users. The use of price theory and market theory from economics has played a vital role to facilitate economic models for spectrum trading. So, it is important to understand the feasibility of using economic approaches as well as to realize the technical challenges associated with them for implementation of cognitive radio networks. With this motivation, we present an extensive summary of the related work that use economic approaches such as game theory and/or price theory/market theory to model the behavior of primary and secondary users for spectrum sharing and discuss the associated issues. We also propose some open directions for future research on economic aspects of spectrum sharing in cognitive radio networks.