Bi-Objective Competition Pricing Model for Component Web Service Economy

Yu Wang, XiaoLin Li and HuaPing Chen
Additional contact information
Yu Wang: School of Management, University of Science and Technology of China, China
XiaoLin Li: School of Mines, China University of Mining and Technology, China
HuaPing Chen: School of Management, University of Science and Technology of China, China

International Journal of Web Services Research (IJWSR), 2021, vol. 18, issue 2, 76-100

Abstract: In the web service marketplace, component-based economy has been proposed for describing participants' behavioral patterns. Composite service networks combine multiple composite services required by various service consumers. With each composite service as a product, web services comprise heterogeneous products. In this study, the pricing behavior of networked individual service providers is investigated. With the objective of service survival or high profitability, service providers compete both on the single-service and service-network levels. Using examples, several mild assumptions are formulated and analyzed. Then, a bi-objective optimization model is proposed based on these assumptions, which attempts to maintain a reasonable effectiveness-fairness trade-off from the individual service providers' perspective. The NP-completeness of the single-objective version is demonstrated by transforming the problem into a subset sum problem, which highlights the challenge of obtaining a pareto set for the bi-objective model. Finally, to validate the proposed model, numerical experimentation and case study are conducted, and both the bi-objective and many-objective versions of the problem are discussed.

Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
http://services.igi-global.com/resolvedoi/resolve. ... 018/IJWSR.2021040105 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:igg:jwsr00:v:18:y:2021:i:2:p:76-100

Access Statistics for this article

International Journal of Web Services Research (IJWSR) is currently edited by Liang-Jie Zhang

More articles in International Journal of Web Services Research (IJWSR) from IGI Global
Bibliographic data for series maintained by Journal Editor ().