A marketplace and its market mechanism for trading commoditized computing resources

Abstract

This paper presents the design and implementation of the GridEcon Marketplace. In addition to supporting a market mechanism for trading computing resources on a pay-per-use basis, this marketplace also provides an environment for integrating value-added support services. These value-added services help consumers to use the utility computing market more efficiently. The GridEcon Market Mechanism for virtual machines specifies in detail the unit-of-trade, the bids and asks, as well as the matching algorithm. The marketplace and market mechanism are validated by using the GridEcon Platform, which is a service-oriented platform for composing market scenarios. Our validation results show that the GridEcon Marketplace fulfills all functional requirements and that the GridEcon Market Mechanism is computationally and economically efficient.

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Acknowledgement

This research has been supported by the European Commission within the framework of the FP6 ICT GridEcon project (contract no. 033634). The authors would also like to thank the members of the GridEcon consortium for their contributions. Special acknowledgement is due to George Stamoulis, Manos Dramitinos, Kostas Giannakakis, Thierry Rayna, Alan Fleming, and Alon Lahav.

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Correspondence to Jörn Altmann.

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Altmann, J., Courcoubetis, C. & Risch, M. A marketplace and its market mechanism for trading commoditized computing resources. Ann. Telecommun. 65, 653–667 (2010). https://doi.org/10.1007/s12243-010-0183-1

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Keywords

  • Grid economics
  • Cloud computing
  • Computing resource market
  • Market mechanism design
  • Utility computing
  • Grid computing
  • Simulation
  • Market scenario emulation