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Future-generation wireless networks will consist of heterogeneous radio access technologies (RATs) with Internet Protocol-based infrastructure and support multiple bearer services having different quality-of-service (QoS) requirements. However, a major issue is how to jointly utilize the resources in the different RATs in an efficient manner while simultaneously achieving the desired QoS and minimizing the service cost from both the user and service provider perspectives. To resolve this issue, this paper proposes an adaptive common radio resource management (CRRM) scheme in the context of CDMA2000 and IEEE 802.11 wireless technologies, which are examples of today's wireless wide-area network (WWAN) and wireless local area network (WLAN) RATs, respectively. The key parameters of the scheme, i.e., service type, user mobility and location information, and service cost, are described. The effectiveness of the proposed CRRM scheme is analytically assessed using the theory of Markov chains. Numerical results show that the proposed CRRM scheme minimizes the rate of unnecessary vertical handoffs, thereby providing stable communication without degrading call-blocking probabilities in all mobility and loading scenarios considered. The proposed CRRM scheme also minimizes service cost, which makes it attractive for implementation in heterogeneous wireless networks.