Future Generation Computer Systems
Computer
GRID '08 Proceedings of the 2008 9th IEEE/ACM International Conference on Grid Computing
Communications of the ACM
Cloud Computing Principles and Paradigms
Cloud Computing Principles and Paradigms
Pricing transmission rights using ant colony optimization
Proceedings of the 13th annual conference companion on Genetic and evolutionary computation
Debunking Real-Time Pricing in Cloud Computing
CCGRID '11 Proceedings of the 2011 11th IEEE/ACM International Symposium on Cluster, Cloud and Grid Computing
Resource Provisioning Policies to Increase IaaS Provider's Profit in a Federated Cloud Environment
HPCC '11 Proceedings of the 2011 IEEE International Conference on High Performance Computing and Communications
Statistical Modeling of Spot Instance Prices in Public Cloud Environments
UCC '11 Proceedings of the 2011 Fourth IEEE International Conference on Utility and Cloud Computing
Estimating resource costs of data-intensive workloads in public clouds
Proceedings of the 10th International Workshop on Middleware for Grids, Clouds and e-Science
Enabling fair pricing on HPC systems with node sharing
SC '13 Proceedings of the International Conference on High Performance Computing, Networking, Storage and Analysis
Economy Based Resource Allocation in IaaS Cloud
International Journal of Cloud Applications and Computing
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
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In this study, we design, develop, and simulate a cloud resources pricing model that satisfies two important constraints: the dynamic ability of the model to provide a high satisfaction guarantee measured as Quality of Service (QoS) - from users perspectives, profitability constraints - from the cloud service providers perspectives We employ financial option theory and treat the cloud resources as underlying assets to capture the realistic value of the cloud compute commodities (C3). We then price the cloud resources using our model. We discuss the results for four different metrics that we introduce to guarantee the quality of service and price as follows: (a) Moore's law based depreciation of asset values, (b) new technology based volatility measures in capturing price changes, (c) a new financial option pricing based model combining the above two concepts, and (d) the effect of age of resources and depreciation of cloud resource on QoS. We show that the cloud parameters can be mapped to financial economic model and we discuss the results of cloud compute commodity pricing for various parameters, such as the age of the resource, quality of service, and contract period.