A security architecture for computational grids
CCS '98 Proceedings of the 5th ACM conference on Computer and communications security
Pricing and Resource Allocation in Computational Grid with Utility Functions
ITCC '05 Proceedings of the International Conference on Information Technology: Coding and Computing (ITCC'05) - Volume II - Volume 02
The Anatomy of the Grid: Enabling Scalable Virtual Organizations
International Journal of High Performance Computing Applications
Computing as Utility: Managing Availability, Commitment, and Pricing Through Contingent Bid Auctions
Journal of Management Information Systems
G-FRoM: Grid Resources Pricing A Fuzzy Real Option Model
E-SCIENCE '07 Proceedings of the Third IEEE International Conference on e-Science and Grid Computing
Using Revenue Management to Determine Pricing of Reservations
E-SCIENCE '07 Proceedings of the Third IEEE International Conference on e-Science and Grid Computing
Amazon S3 for science grids: a viable solution?
DADC '08 Proceedings of the 2008 international workshop on Data-aware distributed computing
Real option valuation on grid computing
Decision Support Systems
A highly available job execution service in computational service market
GRID '07 Proceedings of the 8th IEEE/ACM International Conference on Grid Computing
Market-based grid resource allocation using a stable continuous double auction
GRID '07 Proceedings of the 8th IEEE/ACM International Conference on Grid Computing
Eliciting honest value information in a batch-queue environment
GRID '07 Proceedings of the 8th IEEE/ACM International Conference on Grid Computing
How are Real Grids Used? The Analysis of Four Grid Traces and Its Implications
GRID '06 Proceedings of the 7th IEEE/ACM International Conference on Grid Computing
Fuzzy Logic for Business, Finance, and Management
Fuzzy Logic for Business, Finance, and Management
GRID '08 Proceedings of the 2008 9th IEEE/ACM International Conference on Grid Computing
Grid Commerce, Market-Driven G-Negotiation, and Grid Resource Management
IEEE Transactions on Systems, Man, and Cybernetics, Part B: Cybernetics
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In this paper, we design and develop a financial options-based model for pricing grid resources. The objective is to strike and maintain an equilibrium between service satisfaction of grid users and profitability of service providers. We explain how option theory fits well to price the grid resources. We price various grid resources such as memory, storage, software, and compute cycles as individual commodities. We carried out several experiments and provide a mapping of our research results based on the spot prices to the expected cost of utilizing the resources from three real grids that reflects their usage pattern. We further enhance our model to achieve the objective of equilibrium between Quality of Service (QoS) and profitability from the perspectives of the users and grid operators respectively.