Achieving Market Liquidity through Autonomic Cloud Market Management

Ivan Breskovic (), Michael Maurer (), Vincent C. Emeakaroha (), Ivona Brandic () and Jörn Altmann ()
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Ivan Breskovic: Vienna University of Technology
Michael Maurer: Vienna University of Technology
Vincent C. Emeakaroha: Vienna University of Technology
Ivona Brandic: Vienna University of Technology

No 201180, TEMEP Discussion Papers from Seoul National University; Technology Management, Economics, and Policy Program (TEMEP)

Abstract: Due to the large variety in computing resources, Cloud markets often suffer from a low probability of finding matches between consumers' bids and providers' asks, resulting in low market liquidity. The approach of SLA templates (i.e., templates for electronic contracts) is a means to reduce this variety as it channels the demand and supply. However, until now, the SLA templates used were static, not able to reflect changes in users' requirements. To address this shortcoming, we introduce an adaptive approach for automatically deriving public SLA templates based on the requirements of market participants. To achieve this goal, we utilize clustering algorithms for grouping similar requirements and learning methods for adapting the public SLA templates to observed changes of market conditions. To assess the benefits of the approach, we conduct a simulation-based evaluation and formalize a utility and cost model. Our results show that the use of clustering algorithms and learning algorithms improves the performance of the adaptive SLA template approach.

Keywords: : Service Level Agreement; SLA management; electronic markets; autonomic computing; marketplace; market environments. (search for similar items in EconPapers)
JEL-codes: C61 C63 L14 L15 L86 M15 (search for similar items in EconPapers)
Date: 2011-08, Revised 2011-08
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Persistent link: http://EconPapers.repec.org/RePEc:snv:dp2009:201180

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