X. Bai, L. Bölöni, D. C. Marinescu, H. J. Siegel, R. A. Daley, and I-J. Wang

Utility and Price Based Resource Allocation Models for Large-Scale Distributed Systems


Cite as:

X. Bai, L. Bölöni, D. C. Marinescu, H. J. Siegel, R. A. Daley, and I-J. Wang. Utility and Price Based Resource Allocation Models for Large-Scale Distributed Systems. Journal of Parallel and Distributed Computing, 68(2):182–199, 2008.

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Abstract:

In this paper we discuss an economic model for resource sharing in large-scale distributed systems. The model captures traditional concepts such as consumer satisfaction and provider revenues and enables us to analyze the effect of different pricing strategies upon measures of performance important for the consumers and the providers. We show that given a particular set of model parameters the satisfaction reaches an optimum; this value represents the perfect balance between the utility and the price paid for resources. Our results confirm that brokers play a very important role and can influence positively the market. We also show that consumer satisfaction does not track the consumer utility, these two important performance measures for consumers behave differently under different pricing strategies. Pricing strategies also affect the revenues obtained by providers, as well as, the ability to satisfy a larger population of users.

BibTeX:

@article{Bai-2008-JPDC,
   author = "X. Bai and L. B{\"o}l{\"o}ni and D. C. Marinescu and H. J. Siegel and R. A. Daley and I-J. Wang",
   title = "Utility and Price Based Resource Allocation Models for Large-Scale Distributed Systems",
   journal = "Journal of Parallel and Distributed Computing",
   year = "2008",
   volume = "68",
   number = "2",
   pages = "182-199",
   abstract = {
      In this paper we discuss an economic model for resource sharing in
      large-scale distributed systems. The model captures traditional
      concepts such as consumer satisfaction and provider revenues and
      enables us to analyze the effect of different pricing strategies
      upon measures of performance important for the consumers and the
      providers. We show that given a particular set of model parameters
      the satisfaction reaches an optimum; this value represents the
      perfect balance between the utility and the price paid for
      resources. Our results confirm that brokers play a very important
      role and can influence positively the market. We also show that
      consumer satisfaction does not track the consumer utility, these
      two important performance measures for consumers behave
      differently under different pricing strategies. Pricing strategies
      also affect the revenues obtained by providers, as well as, the
      ability to satisfy a larger population of users.
   },
}

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