A Marketplace and its Market Mechanism for Trading Commoditized Computing Resources

Jörn Altmann, Costas Courcoubetis () and Marcel Risch ()
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Marcel Risch: Technology Management, Economics, and Policy Program (TEMEP), Seoul National University

No 201059, TEMEP Discussion Papers from Seoul National University; Technology Management, Economics, and Policy Program (TEMEP)

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.

Keywords: Grid Economics; Cloud computing; computing resource market; market mechanism design; utility computing; Grid computing; simulation; market scenario emulation. (search for similar items in EconPapers)
JEL-codes: C02 C61 C63 D44 L11 L15 L86 L99 M15 M21 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2010-03, Revised 2010-03
New Economics Papers: this item is included in nep-cmp and nep-mkt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published in Annals of Telecommunications, Springer, 2010

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http://temep-repec.my-groups.de/DP-59.pdf First version, 2010 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:snv:dp2009:201059

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