The Impact of User Rationality in Federated Clouds
CCGRID '12 Proceedings of the 2012 12th IEEE/ACM International Symposium on Cluster, Cloud and Grid Computing (ccgrid 2012)
Policy-Based Automation of SLA Establishment for Cloud Computing Services
CCGRID '12 Proceedings of the 2012 12th IEEE/ACM International Symposium on Cluster, Cloud and Grid Computing (ccgrid 2012)
The resource-as-a-service (RaaS) cloud
HotCloud'12 Proceedings of the 4th USENIX conference on Hot Topics in Cloud Ccomputing
The pricing model of cloud computing services
Proceedings of the 14th Annual International Conference on Electronic Commerce
Characterizing spot price dynamics in public cloud environments
Future Generation Computer Systems
Combinatorial auction-based allocation of virtual machine instances in clouds
Journal of Parallel and Distributed Computing
Cloud storage pricing: a comparison of current practices
Proceedings of the 2013 international workshop on Hot topics in cloud services
Decision model for provisioning virtual resources in Amazon EC2
Proceedings of the 8th International Conference on Network and Service Management
Deconstructing Amazon EC2 Spot Instance Pricing
ACM Transactions on Economics and Computation
Cloud engineering is Search Based Software Engineering too
Journal of Systems and Software
Ginseng: market-driven memory allocation
Proceedings of the 10th ACM SIGPLAN/SIGOPS international conference on Virtual execution environments
Cost-Optimal Cloud Service Placement under Dynamic Pricing Schemes
UCC '13 Proceedings of the 2013 IEEE/ACM 6th International Conference on Utility and Cloud Computing
| Hi-index | 0.00 |
Cloud providers possessing large quantities of spare capacity must either incentivize clients to purchase it or suffer losses. Amazon is the first cloud provider to address this challenge, by allowing clients to bid on spare capacity and by granting resources to bidders while their bids exceed a periodically changing spot price. Amazon publicizes the spot price but does not disclose how it is determined. By analyzing the spot price histories of Amazon's EC2 cloud, we reverse engineer how prices are set and construct a model that generates prices consistent with existing price traces. We find that prices are usually not market-driven as sometimes previously assumed. Rather, they are typically generated at random from within a tight price interval via a dynamic hidden reserve price. Our model could help clients make informed bids, cloud providers design profitable systems, and researchers design pricing algorithms.