SORMA --- Business Cases for an Open Grid Market: Concept and Implementation
GECON '08 Proceedings of the 5th international workshop on Grid Economics and Business Models
Bridging the Adoption Gap-Developing a Roadmap for Trading in Grids
Electronic Markets
GreedEx--a scalable clearing mechanism for utility computing
Electronic Commerce Research
Auctioning Vertically Integrated Online Services: Computational Approaches for Real-Time Allocation
Journal of Management Information Systems
CCGRID '09 Proceedings of the 2009 9th IEEE/ACM International Symposium on Cluster Computing and the Grid
Pricing computational resources in a dynamic grid
International Journal of Grid and Utility Computing
DEEP-SaM - Energy-Efficient Provisioning Policies for Computing Environments
GECON '09 Proceedings of the 6th International Workshop on Grid Economics and Business Models
A mechanism for pricing and resource allocation in peer-to-peer networks
Electronic Commerce Research and Applications
Combining Futures and Spot Markets: A Hybrid Market Approach to Economic Grid Resource Management
Journal of Grid Computing
Sequential Grid Computing: Models and Computational Experiments
INFORMS Journal on Computing
Risk hedging in storage grid markets: Do options add value to forwards?
ACM Transactions on Management Information Systems (TMIS)
Low-energy automated scheduling of computing resources
Proceedings of the 1st ACM/IEEE workshop on Autonomic computing in economics
An Economic Model for Resource Allocation in Grid Computing
Operations Research
A Clock-and-Offer Auction Market for Grid Resources When Bidders Face Stochastic Computational Needs
INFORMS Journal on Computing
Risk Management and Optimal Pricing in Online Storage Grids
Information Systems Research
A reverse auction market for cloud resources
GECON'11 Proceedings of the 8th international conference on Economics of Grids, Clouds, Systems, and Services
Pricing and Resource Allocation in a Cloud Computing Market
CCGRID '12 Proceedings of the 2012 12th IEEE/ACM International Symposium on Cluster, Cloud and Grid Computing (ccgrid 2012)
Sequential Grid Computing: Models and Computational Experiments
INFORMS Journal on Computing
Efficient Risk Hedging by Dynamic Forward Pricing: A Study in Cloud Computing
INFORMS Journal on Computing
An Adaptable Job Submission System Based on Moderate Price-Adjusting Policy in Market-Based Grids
Wireless Personal Communications: An International Journal
Hi-index | 0.00 |
Grid computing uses software to integrate computing resources, such as CPU cycles, storage, network bandwidth, and even applications, across a distributed and heterogeneous set of networked computers. It is now widely deployed by organizations and provides seamless temporary processing-capacity expansion to handle peak-period demand on e-commerce servers, distributed gaming, and content storage and distribution. We develop a market-based resource-allocation model that adds an economic layer to the current approach of treating resource allocation as primarily a scheduling issue. We design a value-elicitation and allocation scheme that provides the economic incentives for buyers and sellers of computing resources to exchange assets. We formulate the problem as a combinatorial call auction and present a portfolio of three solution approaches that trade off economic properties, such as allocative efficiency, incentive compatibility, and fairness in allocation, with computational efficiency. The first of these is an efficient solution that maximizes social welfare and yields incentive-compatible Vickrey-Clarke-Groves prices, but requires solving multiple instances of an NP-hard problem. For markets where having a commodity price is critical, we show how the addition of fairness constraints to the efficient model can somewhat reduce the computational burden and yet preserve incentive compatibility. Finally, for markets that require real-time fast solution techniques, we propose a time-sensitive fair Grid (tsfGRID) heuristic that relaxes the maximal allocation requirement of the welfare-maximizing fair solution. Its solution is not guaranteed to be incentive-compatible, but the heuristic is designed to be fast, maintain fairness in allocations, and yield commodity prices. Notably, while incentive compatibility is not guaranteed by tsfGRID, computational results comparing it with the efficient solution technique indicate that there are no significant differences in the expected-revenue and operational-allocative characteristics.