A Pricing Mechanism for Resource Management in Grid Computing

Authors:
Panos Parpas;Berç Rustem
Affiliations:
Department of Computing, Imperial College, London, UK SW7 2AZ;Department of Computing, Imperial College, London, UK SW7 2AZ
Venue:
Computational Economics
Year:
2008

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Abstract

We consider the problem of efficient resource allocation in a grid computing environment. Grid computing is an emerging paradigm that allows the sharing of a large number of a heterogeneous set of resources. We propose an auction mechanism for decentralized resource allocation. The problem is modeled as a multistage stochastic programming problem. Convergence of the auction allocations to the social optimum is established. Numerical experiments illustrate the efficacy of the method.