Grid Economics and Business Models

Veit, Daniel; Gentzsch, Wolfgang

doi:10.1007/s10723-008-9106-z

Cited by 7 publications

(13 citation statements)

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“…It is not necessary that such grid markets have to exist since grid resources and the environment within which they get traded differ fundamentally from traditional commodities such as grain, iron ore and other raw materials for which there are well established commodity markets. Previous research on grid market structures does not provide any guidance or approach to ascertain the existence of grid markets which deal with commodities that are unique and have no commonality with traditional resources [21,22].…”

Section: Motivationmentioning

confidence: 99%

Existence of Market Equilibria for Grid Computing

Shrimali¹,

Tayi²

2012

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Grid computing has emerged as an effective mechanism for allocating globally available surplus computational capacity to applications whose requirements exceed local capacity. It is often viewed as a commodity exchange with additional grid computing specific constraints that may arise due to requirements on multiple resources (e.g., disk space) in addition to computing power. These constraints are related to complementarity and substitution effects among resources, and significantly alter the assumptions typically used for demonstrating the existence of market equilibrium. However, prior work in grid computing has simply assumed that market equilibria exist. Our work fills this gap by studying the existence of market equilibrium under the grid computing environment. To do so, we first establish an economic framework that incorporates the grid computing specific constraints into a commodity market. We next derive some intuitive necessary conditions based on the computing requirements of individual agents. We finally establish the existence of regular markets as a competitive equilibrium, given that these necessary conditions are met and that the agents' utility functions satisfy some minimal requirements. In the process, we also show existence of competitive equilibrium for the special case of grid computing as a pure exchange economy 1 .

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Section: Motivationmentioning

confidence: 99%

Existence of Market Equilibria for Grid Computing

Shrimali¹,

Tayi²

2012

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“…In the past few years, there have been plenty of studies exploiting market pricing mechanism for distributed resource allocation, and the well-known distributed systems [5,6,7,8,9,10]. Beside this systems, many economic-based policies and scheduling algorithms have also be widely studied, include Resource Auction [11,12], FirstPrice [13], FirstProfit [14], and Proportional-Share [15].…”

Section: Introductionmentioning

confidence: 99%

“…Beside this systems, many economic-based policies and scheduling algorithms have also be widely studied, include Resource Auction [11,12], FirstPrice [13], FirstProfit [14], and Proportional-Share [15]. In typical distributed systems, economic-based model is has been proven to be effective for resource allocation, however, it also raise other problems that cannot be ignored [7,8,9]. Firstly, economic models bring about extra communicational and computational overhead to applications [8,16]; Secondly, when the system is in presence of high-end applications that require co-allocating multiple resources across sites, the price negotiation process is often low-efficient [6,9,17].…”

Section: Introductionmentioning

confidence: 99%

A Novel Resource Pricing Mechanism based on Multi-Player Gaming Model in Cloud Environments

Zhang¹

2014

JSW

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Recently, cloud computing has become a promising network platform for non-trivial applications.The key feature of cloud computing is on-demand resource provision by utility paradigm. Therefore, resource pricing mechanism plays an important role for realizing on-demand resource provision. Unfortunately, existing resource pricing mechanism will result in many negative effects on system performance, such as low-efficient negotiation, extra communication costs and etc. In this paper, we present a novel resource pricing mechanism, which is based on multiplayer gaming model and capable of realizing batch resource allocation in an efficient manner. In this mechanism, we introduce a set of virtual resource brokers which is responsible for figuring most rationale resource prices in elastic cloud environment. To investigate the effectiveness and performance of our pricing mechanism, extensive experiments are conducted, and we compare its performance with various approaches, include marketbased approaches and auction mechanisms. The results show that our pricing mechanism is more effective to realizing batch resource allocation, especially when the system workload is intensive. In addition, our mechanism can significantly reduce the negotiation costs comparing with exiting approaches.

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“…Theoretical analysis is presented to validate the correctness of the proposed gaming model, and extensive experiments are conducted to investigate the effectiveness of the proposed resource pricing mechanism. The results indicate that our resource pricing mechanism outperforms many existing approaches in terms of resource profits and response time, especially when the cloud system is in presence of intensive workloads.pricing mechanism will lead to many negative effects on system performance with the increasing of system scale, such as low resource utilization [14-16], load unbalancing [12,17,18], undesirable QoS satisfaction [19,20]. To address the above issues, in this work we present a cloud resource pricing model with aiming at overcoming the shortcomings of existing price mechanisms in terms of efficiency and fairness.…”

mentioning

confidence: 99%

“…pricing mechanism will lead to many negative effects on system performance with the increasing of system scale, such as low resource utilization [14-16], load unbalancing [12,17,18], undesirable QoS satisfaction [19,20]. To address the above issues, in this work we present a cloud resource pricing model with aiming at overcoming the shortcomings of existing price mechanisms in terms of efficiency and fairness.…”

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confidence: 99%

A Two-Phase Gaming Model for Resource Pricing in Elastic Cloud Environments

Qu¹,

He²

2014

IJGDC

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With the development of cloud computing, many organizations are deploying their IT infrastructures through cloud platforms so as to provide services for more and more users. Therefore, resource pricing mechanism becomes a key component in these open cloud platforms. In this paper, we propose a gaming theory based cloud resource pricing model, in which a cooperative gaming model is applied to optimize the resource benefits and noncooperative gaming model is used to balance the user's costs and provider's benefits. Theoretical analysis is presented to validate the correctness of the proposed gaming model, and extensive experiments are conducted to investigate the effectiveness of the proposed resource pricing mechanism. The results indicate that our resource pricing mechanism outperforms many existing approaches in terms of resource profits and response time, especially when the cloud system is in presence of intensive workloads.pricing mechanism will lead to many negative effects on system performance with the increasing of system scale, such as low resource utilization [14-16], load unbalancing [12,17,18], undesirable QoS satisfaction [19,20]. To address the above issues, in this work we present a cloud resource pricing model with aiming at overcoming the shortcomings of existing price mechanisms in terms of efficiency and fairness. In our pricing model, virtual resource configuration and provision are defined as a two-phrase gaming procedure, in which cooperative gaming model is applied to optimize the resource benefits and non-cooperative gaming model is used to balance the user's costs and provider's benefits.The rest of this paper is organized as following: Section 2 presents the related work; In Section 3, the gaming models are presented with problem description; In Section 4 the solutions of game models are presented theoretically; In Section 5, experiments are conducted to examine the effectiveness of the proposed approach. Finally, Section 6 concludes the paper with a brief discussion of the future work. (b) β= 1.5 (a) β= 2.0 (b) β= 2.5 Figure 2.

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Grid Economics and Business Models

Cited by 7 publications

References 0 publications

Existence of Market Equilibria for Grid Computing

Existence of Market Equilibria for Grid Computing

A Novel Resource Pricing Mechanism based on Multi-Player Gaming Model in Cloud Environments

A Two-Phase Gaming Model for Resource Pricing in Elastic Cloud Environments

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