A commodity market algorithm for pricing substitutable Grid resources

Stuer, Gunther; Vanmechelen, Kurt; Broeckhove, J.

doi:10.1016/j.future.2006.11.004

Cited by 85 publications

(41 citation statements)

References 34 publications

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“…These models each have strengths and weaknesses and are suitable for a certain situation. Stuer [21] prefers the commodity model, since he believes that this model leads to equilibrium in supply and demand. Stanford [22] has designed architecture based on the contract method in which a dynamic pricing model exists based on the clash of demands mechanism.…”

Section: In Public Environmentmentioning

confidence: 99%

Efficient Nash equilibrium resource allocation based on game theory mechanism in cloud computing by using auction

Nezarat

Dastghaibifard

2015

2015 1st International Conference on Next Generation Computing Technologies (NGCT)

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One of the most complex issues in the cloud computing environment is the problem of resource allocation so that, on one hand, the cloud provider expects the most profitability and, on the other hand, users also expect to have the best resources at their disposal considering the budget constraints and time. In most previous work conducted, heuristic and evolutionary approaches have been used to solve this problem. Nevertheless, since the nature of this environment is based on economic methods, using such methods can decrease response time and reducing the complexity of the problem. In this paper, an auction-based method is proposed which determines the auction winner by applying game theory mechanism and holding a repetitive game with incomplete information in a non-cooperative environment. In this method, users calculate suitable price bid with their objective function during several round and repetitions and send it to the auctioneer; and the auctioneer chooses the winning player based the suggested utility function. In the proposed method, the end point of the game is the Nash equilibrium point where players are no longer inclined to alter their bid for that resource and the final bid also satisfies the auctioneer's utility function. To prove the response space convexity, the Lagrange method is used and the proposed model is simulated in the cloudsim and the results are compared with previous work. At the end, it is concluded that this method converges to a response in a shorter time, provides the lowest service level agreement violations and the most utility to the provider.

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Section: In Public Environmentmentioning

confidence: 99%

Efficient Nash equilibrium resource allocation based on game theory mechanism in cloud computing by using auction

Nezarat

Dastghaibifard

2015

2015 1st International Conference on Next Generation Computing Technologies (NGCT)

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“…-An Auction market which supports double auctions as well as English, Dutch, First-Price Sealed-Bid and Vickrey auctions [14]. -A Commodity market that uses a Walrasian Auctioneer [15] for pricing. Multiple price adjustment schemes can be used ranging from a routine based on Smale's method [16] to various optimization routines delivered by the Matlab Optimization Toolbox which are interfaced through RMI.…”

Section: Rms Frameworkmentioning

confidence: 99%

“…While GES in its current form has proven to be very useful in our research [15,18,19], we are planning for the inclusion of additional features. The first is the inclusion of network abstractions.…”

Section: Summary and Future Workmentioning

confidence: 99%

A Simulation Framework for Studying Economic Resource Management in Grids

Vanmechelen

Depoorter

Broeckhove

2008

Computational Science – ICCS 2008

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Abstract. Economic principles are increasingly being regarded as a way to address conflicting user requirements, to improve the effectiveness of grid resource management systems, and to deliver incentives for providers to join virtual organizations. Because economic resource management mechanisms can encourage grid participants to reveal the true valuations of their jobs and resources, the system becomes capable of making better scheduling decisions. A lot of exploratory research into different market mechanisms for grids is ongoing. Since it is impractical to conduct analysis of novel mechanisms on operational grids, most of this research is being carried out using simulation. This paper presents the Grid Economics Simulator (GES) in support of such research. The key design goals of the framework are enabling a wide variety of economic and non-economic forms of resource management while simultaneously supporting distributed execution of simulations and exhibiting good scalability properties.

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“…• Commodity Market Model [14,26] • Posted Price Model [1] • Bargaining Model [24] • Tendering/Contract-Net Model [23,25] • Auction Model [10,11,15,22] • Bid-based Proportional Resource Sharing Model [7,16].…”

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confidence: 99%

Micro-economics based resource allocation in Grid-Federation environment

2011

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A Grid-Federation environment is composed of a collection of autonomous and selfish distributed cluster resource managers. These selfish managers participate in Grid-Federation to share their resources. Market models could be used to motivate the self-interested participants to share their resources. In this paper, firstly, a market for resource exchange in grid federation environment is established. Then, in order that the market reaches a Walrasian equilibrium, a computationally tractable mechanism is proposed. A Walrasian equilibrium problem consists of finding a set of prices and allocations of resources in such a way that the cluster resource managers could maximize their utilities and the market clears. Market clears when the resource supply equals to the demand. We show that in a Walrasian equilibrium, the Grid Federation market reaches an efficient resource allocation.

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A commodity market algorithm for pricing substitutable Grid resources

Cited by 85 publications

References 34 publications

Efficient Nash equilibrium resource allocation based on game theory mechanism in cloud computing by using auction

Efficient Nash equilibrium resource allocation based on game theory mechanism in cloud computing by using auction

A Simulation Framework for Studying Economic Resource Management in Grids

Micro-economics based resource allocation in Grid-Federation environment

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