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Market Mechanisms for Trading Grid Resources

  • Costas Courcoubetis
  • Manos Dramitinos
  • Thierry Rayna
  • Sergios Soursos
  • George D. Stamoulis
Part of the Lecture Notes in Computer Science book series (LNCS, volume 5206)

Abstract

There has been recently an increasing interest in Grid services and economic-aware Grid systems both in the industry and the academia. In this paper we specify a market for hardware providers and consumers interested in leasing Grid resources for a time period. Our approach comprises a stock-market like mechanism that enables the trading of computational power on the basis of a spot and a futures market. The spot market comprises a pair of bid and ask queues. This grid market is more complicated than the standard spot/futures markets of storable commodities, because the computational service traded in our case comprises of resources that are perishable, and has both quantity and duration specified in terms of a time interval. This is an important feature of our market mechanism, complicating considerably the trading algorithms that we develop and assess in this paper.

Keywords

Market mechanism grid market bid and ask spot futures 

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References

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Copyright information

© Springer-Verlag Berlin Heidelberg 2008

Authors and Affiliations

  • Costas Courcoubetis
    • 1
  • Manos Dramitinos
    • 1
  • Thierry Rayna
    • 2
  • Sergios Soursos
    • 1
  • George D. Stamoulis
    • 1
  1. 1.Network Economics and Services Group (N.E.S.), Department of InformaticsAthens University of Economics and Business (AUEB)AthensGreece
  2. 2.Internet CentreImperial College LondonLondonUnited Kingdom

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