  Internet of Things (IoT) technology is a fundamental infrastructure for
information transmission and integration in smart city implementations to
achieve effective fine-grained city management, efficient operations, and
improved life quality of citizens. Smart-city IoT systems usually involve high
volume and variety of information circulation. The information lifecycle also
involves many parties, stakeholders, and entities such as individuals,
businesses, and government agencies with their own objectives which needed to
be incentivized properly. As such, recent studies have modeled smart-city IoT
systems as a market, where information is treated as a commodity by market
participants. In this work, we first present a general information-centric
system architecture to analyze smart-city IoT systems. We then discuss features
of market-oriented approaches in IoT, including market incentive, IoT service
pattern, information freshness, and social impacts. System design chanlenges
and related work are also reviewed. Finally, we optimize information trading in
smart-city IoT systems, considering direct and indirect network externalities
in a social domain.

Distributed, Parallel, and Cluster Computing;Computers and Society