Spawn: A Distributed Computational Economy
IEEE Transactions on Software Engineering
The POPCORN market—an online market for computational resources
Proceedings of the first international conference on Information and computation economies
The grid
Microeconomics and the Market for Computer Services
ACM Computing Surveys (CSUR)
A futures market in computer time
Communications of the ACM
Markov Decision Processes: Discrete Stochastic Dynamic Programming
Markov Decision Processes: Discrete Stochastic Dynamic Programming
Analyzing Market-Based Resource Allocation Strategies for the Computational Grid
International Journal of High Performance Computing Applications
Tycoon: An implementation of a distributed, market-based resource allocation system
Multiagent and Grid Systems
Node-level architecture design and simulation of the MAGOG Grid middleware
AusGrid '09 Proceedings of the Seventh Australasian Symposium on Grid Computing and e-Research - Volume 99
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In this paper we describe aspects of a market model for Grid computing. In particular we concentrate on Grid computing provided by a peer-to-peer network architecture. In this network nodes can either buy or sell computing power in exchange for money. Building on previous publications we develop a mathematical market model using Markov chains. The behaviour of each agent in the market is described by a Markov chain of decisions on buying, selling or holding. Considering the contributions of all agents, we calculate the global Markov chain of the market state as a whole, by making use of a concept of market pressure that reduces the state space of the entire market model. We show that the Markov chain model describes the market behaviour seen in a simulation extremely well. In a similar way to other perishable commodity markets like fish and electricity, we also provide a model for trading future contracts on the purchase and sale of computing power in this market. Using Markov Decision Processes we derive an optimal trading strategy. This work introduces a pioneer mathematical model for future global peer-to-peer Grid computing architectures like MaGoG (Middleware for activating the Global open Grid), where we have derived a global transition probability matrix that determines the behaviour of the market by summing up the contributions of different kinds of market participants.