Sharing infrastructure along with spectrum can enable operators to reduce deployment costs, especially in indoor or rural settings. This sharing is complicated in settings where portions of the underlying spectrum resources may be intermittently available, for example, because they are shared with an incumbent user. During these periods, some portion of the traffic utilizing the shared infrastructure may need to be shed. This paper considers how an Infrastructure Network Provider (INP) should design contracts and shedding policies when sharing its infrastructure with a set of risk-averse Service Providers (SPs). Utilizing a Constant Absolute Risk Aversion (CARA) framework, we prove that the optimal shedding allocation scales inversely with the product of the SP’s risk aversion and traffic volume. We further extend the analysis to vertically integrated markets, identifying a regime-dependent priority structure in which an INP-owned SP is protected during minor fluctuations but serves as a shock absorber during severe crises. Numerical results illustrate the theoretical framework, showing that risk-aware shedding allocation yields a higher economic surplus than proportional rationing under stochastic spectrum availability.
