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.
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Courcoubetis, C., Dramitinos, M., Rayna, T., Soursos, S., Stamoulis, G.D. (2008). Market Mechanisms for Trading Grid Resources. In: Altmann, J., Neumann, D., Fahringer, T. (eds) Grid Economics and Business Models. GECON 2008. Lecture Notes in Computer Science, vol 5206. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-85485-2_5
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DOI: https://doi.org/10.1007/978-3-540-85485-2_5
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-85484-5
Online ISBN: 978-3-540-85485-2
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