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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