Future wireless networks should meet heterogeneous service requirements of diverse applications, including interactive multimedia, augmented reality, and autonomous driving. The fog radio access network (Fog-RAN) is a novel architecture that enables efficient and flexible allocation of network resources to end users. However, guaranteeing application-specific service requirements while maximizing resource utilization is an open challenge in Fog-RANs. This article proposes a multiresource Fog-RAN slicing scheme that maximizes network resource utilization and satisfies important economic properties: Pareto-optimality, envy freeness, and sharing incentive. The proposed solution considers both heterogeneous resources (i.e., bandwidth, storage, and computing) and the different service levels defined in 5G networks. Accordingly, a two-level resource scheduling mechanism is devised to jointly allocate Fog-RAN resources to slices in two stages: 1) a broker allocates resources to slices at fog nodes over a given time window and 2) a slice hypervisor then allocates slice-specific resources at each fog node to users with a much shorter time scale. An extensive evaluation based on real-world data sets demonstrates that the proposed solution significantly increases the monetary gain of service providers, namely, by 32%–60% compared to the state of the art, including dynamic hierarchical resource allocation and dynamic slicing with proportional allocation.
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