Enabling Open Cloud Markets Through WS-Agreement Extensions

Marcel Risch () and Jörn Altmann

No 200920, TEMEP Discussion Papers from Seoul National University; Technology Management, Economics, and Policy Program (TEMEP)

Abstract: Research into computing resource markets has mainly considered the question of which market mechanisms provide a fair resource allocation. However, while developing such markets, the definition of the unit of trade (i.e. the definition of resource) has not been given much attention. In this paper, we analyze the requirements for tradable resource goods. Based on the results, we suggest a detailed goods definition, which is easy to understand, can be used with many market mechanisms, and addresses the needs of a Cloud resource market. The goods definition captures the complete system resource, including hardware specifications, software specifications, the terms of use, and a pricing function. To demonstrate the usefulness of such a standardized goods definition, we demonstrate its application in the form of a WSAgreement template for a number of market mechanisms for commodity system resources.

Keywords: Grid economics; unit of trade; system resource trading; Cloud computing market; system virtualization; contract templates; WS-agreements; service level contract; Cloud economics. (search for similar items in EconPapers)
JEL-codes: D80 D83 L14 L86 M15 M21 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2009-10, Revised 2009-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published in Service Level Agreements in Grids Workshop, in conjunction with GRID2009, CoreGRID Springer Series, Banff, Canada, October 2009

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http://temep-repec.my-groups.de/DP-20.pdf First version, 2009 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:snv:dp2009:200920

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