An Autonomous Pricing Strategy toward Market Economy in Computational Grids

Authors:
Yang Jin;Yang Shoubao;Li Maosheng;Fu Qianfei
Affiliations:
University of Science and Technology of China;University of Science and Technology of China;University of Science and Technology of China;University of Science and Technology of China
Venue:
ITCC '05 Proceedings of the International Conference on Information Technology: Coding and Computing (ITCC'05) - Volume II - Volume 02
Year:
2005

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Abstract

One of the key steps in economy based grid resource allocation is to make reasonable prices for the grid resources. For resources' prices decide the resource flow in the Grid, further influence Grid resources' trading efficiency. This article, instead of discussing the pricing algorithm, argues an autonomous pricing mechanism that leaves the prices to be decided by the Grid traders within their trading process. We firstly point out the factors that influence the resources' prices; then make out the trading flow for resource consumer agents and provider agents. By doing these, the two trading agents can decide their price due to the dynamic changes of the Grid environment without any manmade interferences. Since price is the core of market economy, the autonomous pricing strategy provides us with a foundation to use the invisible hand of market to allocate the Grid resource.