Title
Combining futures and spot markets : a hybrid market approach to economic grid resource management Combining futures and spot markets : a hybrid market approach to economic grid resource management
Author
Faculty/Department
Faculty of Sciences. Mathematics and Computer Science
Publication type
article
Publication
,
Subject
Computer. Automation
Source (journal)
Journal of grid computing. - Place of publication unknown
Volume/pages
9(2011) :1 , p. 81-94
ISSN
1570-7873
ISI
000293973300006
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
Economic forms of resource management in which users can express their valuations for service, offer new possibilities for optimizing resource allocations in Grids. If users are to correctly express these valuations, quality of service guarantees need to be given with respect to the turnaround time of their workloads. Market mechanisms that support bidding and allocations in future time are crucial for delivering such guarantees. To deal with the significant delays that these mechanisms introduce in the allocation process, we present a hybrid market approach in which a low-latency spot market coexists with a higher latency futures market. Based on simulated market scenarios, we show how this combination can significantly increase the total value realized by the Grid infrastructure. We also demonstrate how providers can react to price dynamics in such a hybrid market setting.
E-info
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