Creating Standardized Products for Electronic Markets

Ivan Breskovic (), Jörn Altmann and Ivona Brandic ()
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Ivan Breskovic: Vienna University of Technology, Austria
Ivona Brandic: Vienna University of Technology, Austria

No 201296, TEMEP Discussion Papers from Seoul National University; Technology Management, Economics, and Policy Program (TEMEP)

Abstract: Cloud computing is supposed to offer resources (i.e., data, software, and hardware services) in a manner similar to traditional utilities such as water, electricity, gas, and telephony. However, the current Cloud market is fragmented and static, preventing the successful implementation of ubiquitous computing on demand. In order to address the issue of fragmentation, commodity Cloud marketplaces have been suggested. However, as those marketplaces still suffer from being static (i.e., not being capable to adapt to changing market conditions and to the dynamics of user requirements for services), they do not operate at the optimal point. In this paper, we address this issue by channeling demand and supply into a few standardized services that are automatically adapted to user requirements in regular time intervals. For this, we utilize clustering algorithms and monitor the requirements of users. In order to avoid any cost to the user through these adaptations, we automatically adapt service level specifications of users to newly defined standardized goods. Using a simulation framework, we evaluate our approach and show its benefits to end users.

Keywords: Service Level Agreement; SLA Management; SLA Matching; Electronic Markets; Cloud Economics; Autonomic Computing; Standardized Goods; Commodity Goods; Market Modeling; Market Liquidity; Computing Resource Market. (search for similar items in EconPapers)
JEL-codes: C61 C63 L15 L86 M15 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2012-09, Revised 2012-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published in Future Generation Computer Systems, The International Journal of Grid Computing and eScience.

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http://temep-repec.my-groups.de/DP-96.pdf First version, 2012 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:snv:dp2009:201296

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