A commodity market algorithm for pricing substitutable Grid resources (original) (raw)

PRICING SUBSTITUTABLE GRID RESOURCES USING COMMODITY MARKET MODELS

2006

Enhancing Grid technology with market models for trading resources, is a promising step for Grids to become open systems that allow for user-centric service provisioning. This paper introduces a market model for trading substitutable Grid resources in a commodity market. We develop a pricing scheme and evaluate the market mechanisms through simulation. We show that the resource market achieves price stability and correctness, allocative efficiency and fairness.

Market-Based Resource Allocation in Grids

2006 Second IEEE International Conference on e-Science and Grid Computing (e-Science'06), 2006

The core goal of resource management is to establish a mutual agreement between a resource producer and a resource consumer by which the provider agrees to supply a capability that can be used to perform some tasks on behalf of the con- sumer. Market-based approaches introduce money and pricing as the technique for coordination be- tween consumers and producers of resources. In this paper, we propose a market-based mechanism to allocate computational resources (CPU time) with a single central Market in a local Grid. In such a network whenever any node can offer idle CPU time to the Grid and whenever a node has some tasks waiting for free CPU, it may request the resource from the Grid. In our approach, con- sumers and producers are autonomous agents that make their own decisions according to their ca- pabilities and their local knowledge. Continuous Double Auction model is used as a technique us- ing which these selfish agents can coordinate their work and make their decision. The performance of this mechanism is evaluated and is compared with the simple FCFS mechanism.

Modeling Resource Prices in Grid Markets

2012 Seventh International Conference on P2P, Parallel, Grid, Cloud and Internet Computing, 2012

Economic principles have been proposed in the literature to underpin the algorithms for managing resources in complex distributed systems such as grids or peer-to-peer systems. Such principles represents a shift away from traditional system-centric management towards user-centric management. It allows each user to formulate an individual valuation of the requested resources by indicating an acceptable price level for their usage.

Resource Allocation in Market-based Grids Using a History-based Pricing Mechanism

Advances in Computer and Information Sciences and Engineering, 2008

In an ad-hoc Grid environment where producers and consumers compete for providing and employing resources, trade handling in a fair and stable way is a challenging task. Dynamic changes in the availability of resources over time makes the treatment yet more complicated. Here we employ a continuous double auction protocol as an economic-based approach to allocate idle processing resources among the demanding nodes. Consumers and producers determine their bid and ask prices using a sophisticated history-based dynamic pricing strategy and the auctioneer follows a discriminatory pricing policy which sets the transaction price individually for each matched buyer-seller pair. The pricing strategy presented generally simulates human intelligence in order to define a logical price by local analysis of the previous trade cases. This strategy is adopted to meet the user requirements and constraints set by consumers/producers. Experimental results show waiting time optimization which is particularly critical when resources are scarce.

Market-based pricing in grids: On strategic manipulation and computational cost

European Journal of Operational Research, 2010

Grid technologies and the related concepts of utility computing and cloud computing enable the dynamic sourcing of computer resources and services, thus allowing enterprises to cut down on hardware and software expenses and to focus on key competencies and processes. Resources are shared across administrative boundaries, e.g. between enterprises and/or business units. In this dynamic and inter-organizational setting, scheduling and pricing become key challenges. Market mechanisms show promise for enhancing resource allocation and pricing in grids. Current mechanisms, however, are not adequately able to handle large-scale settings with strategic users and providers who try to benefit from manipulating the mechanism. In this paper, a market-based heuristic for clearing large-scale grid settings is developed. The proposed heuristic and pricing schemes find an interesting match between scalability and strategic behavior.

Resource pricing in a Dynamic Multi-Commodity Market for Computational Resources

International journal of Computer Networks & Communications, 2010

The adoption of market-based principles in resource management systems for computational infrastructures such as grids and clusters allows for matching demand and supply for resources in a utility maximizing manner. As such, they offer a promise of producing more efficient resource allocations, compared to traditional system-centric approaches that do not allow consumers and providers to express their valuations for computational resources. In this paper, we investigate the pricing of resources in grids through the use of a computational commodity market of CPU resources, where resource prices are determined through the computation of a supply-and-demand equilibrium. In particular, we introduce several categories of CPUs characterized by their execution speed. These differ in cost and performance but may be used interchangeably in executing jobs and thus represent so-called substitutable resources. We investigate the performance of the algorithms for computing the supply-and-demand equilibrium in this multi-commodity setting under dynamically varying consumer and provider populations.

On the design of a two-tiered grid market structure

… Applications of P2P …, 2006

Designing an end-to-end Grid market for computational utility with service requesters on the one side, and resource providers on the other, can become a complex issue. This paper motivates to break up into two different, though interdependent markets, in which both a market engineering process is carried out: a resource market to build basic servies out of computational and data resources, and a service market, which composes complex application services out of these building blocks. The paper describes considerations and processes for designing dedicated market mechanisms for the resource management in Grids. The organization of these mechanisms can be either centralized (e.g. using an auctioneer) and decentralized (e.g. by bilateral bargaining processes).

A Pricing Mechanism for Resource Management in Grid Computing

Computational Economics, 2008

We consider the problem of efficient resource allocation in a grid computing environment. Grid computing is an emerging paradigm that allows the sharing of a large number of a heterogeneous set of resources. We propose an auction mechanism for decentralized resource allocation. The problem is modeled as a multistage stochastic programming problem. Convergence of the auction allocations to the social optimum is established. Numerical experiments illustrate the efficacy of the method.

Equilibrium Prices for Resource Allocation in Grid Computing

We study resource allocation problem in a grid computing framework, where agents and resources are distributed in a graph and agents get these resources with their price plus bandwidth cost. We focus on pricing resources from Walrasian equilibrium point of view. In our model, Walrasian equilibrium always exists, and we give a polynomial time algorithm to compute one.

Towards a micro-economic model for resource allocation in grid computing systems

2002

Due to the expected scale of the Grid computing systems, we need to develop highly distributed and extensible resource allocation frameworks for such systems. Microeconomic principles such as auctioning and commodity market are two approaches that are being pursued by several researchers for the Grid resource allocation problem. In this paper, we use a commodity market based approach to allocate resources, where resources are classified into different classes based on the hardware components, network connectivity, and operating system. In commodity market, the prices of the commodities ("resources") are fixed using individual supply and demand functions. In this paper we have developed an algorithm to determine the price of the resource. The simulation results show the performance of the pricing algorithm used in the commodity market.