GridEcon: A Market Place for Computing Resources

  • Authors:

  • Jörn Altmann;Costas Courcoubetis;George D. Stamoulis;Manos Dramitinos;Thierry Rayna;Marcel Risch;Chris Bannink

  • Affiliations:

  • School of Information Technology, International University in Germany, Bruchsal, Germany 76646 and TEMEP, School of Engineering, Seoul National University, Seoul, South-Korea;Network Economics and Services Group (N.E.S.), Department of Informatics, Athens University of Economics and Business (AUEB), Athens, Greece GR 10434;Network Economics and Services Group (N.E.S.), Department of Informatics, Athens University of Economics and Business (AUEB), Athens, Greece GR 10434;Network Economics and Services Group (N.E.S.), Department of Informatics, Athens University of Economics and Business (AUEB), Athens, Greece GR 10434;Internet Centre, Imperial College London, London, UK SW7 2AZ;School of Information Technology, International University in Germany, Bruchsal, Germany 76646;Logica Management Consulting, Amstelveen, The Netherlands 1180 AD

  • Venue:
  • GECON '08 Proceedings of the 5th international workshop on Grid Economics and Business Models
  • Year:
  • 2008

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Abstract

This paper discusses the rationales for a Grid market and, in particular, the introduction of a market place for trading commoditized computing resources. The market place proposed makes computing resources from different providers substitutable through virtualization. This includes the definition of a spot and future market as well as the parameters that a market mechanism for computing resources should consider. The above market place is complemented by a set of value-added services (e.g. insurance against resource failures, capacity planning, resource quality assurance, stable price offering) that ensure quality for Grid users over time. The market place technology for all of the above services has been designed by the GridEcon project, contributing to a broader adoption of Grid technology and enabling a service-oriented knowledge utility environment.