Maximizing revenue in grid markets using an economically enhanced resource manager

Macías, M., Rana, Omer Farooq ORCID: https://orcid.org/0000-0003-3597-2646, Smith, G., Guitart, J. and Torres, J. 2010. Maximizing revenue in grid markets using an economically enhanced resource manager. Concurrency and Computation: Practice and Experience 22 (14) , pp. 1990-2011. 10.1002/cpe.1370

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Abstract

Traditional resource management has had as its main objective the optimization of throughput, based on parameters such as CPU, memory, and network bandwidth. With the appearance of Grid markets, new variables that determine economic expenditure, benefit and opportunity must be taken into account. The Self-organizing ICT Resource Management (SORMA) project aims at allowing resource owners and consumers to exploit market mechanisms to sell and buy resources across the Grid. SORMA's motivation is to achieve efficient resource utilization by maximizing revenue for resource providers and minimizing the cost of resource consumption within a market environment. An overriding factor in Grid markets is the need to ensure that the desired quality of service levels meet the expectations of market participants. This paper explains the proposed use of an economically enhanced resource manager (EERM) for resource provisioning based on economic models. In particular, this paper describes techniques used by the EERM to support revenue maximization across multiple service level agreements and provides an application scenario to demonstrate its usefulness and effectiveness. Copyright © 2008 John Wiley & Sons, Ltd.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Computer Science & Informatics
Subjects:	Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Uncontrolled Keywords:	service level agreements; Grid economy; resource management
Additional Information:	Special issue: Economic Models and Algorithms for Grid Systems
Publisher:	Wiley-Blackwell
ISSN:	1532-0626
Last Modified:	18 Oct 2022 13:32
URI:	https://orca.cardiff.ac.uk/id/eprint/14231

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