Abstract
Scale up the number of computing resources is a challenging issue when building a global computational system. For this purpose, we present an approach that adopts the commodity market model as an economic incentive model and ensures the balance between supply and demand. We show how this model may be adapted and applied to a large scale computational infrastructure. To achieve a competitive equilibrium, prices are adjusted according to a tâtonnement like process. However, this process, like several other pricing algorithms proposed in the literature, does not fulfill the scalability requirement: all prices of all commodities are computed by only one auctioneer. In the present work, a fully distributed pricing algorithm is proposed based on an existing partially distributed version. While in this last version, the price of each commodity is computed by only one auctioneer, in our algorithm, a variable number of auctioneers is used. To each auctioneer is associated a limited number of consumers and suppliers with low communication delay. Our algorithm is then scalable with respect to the number of suppliers and consumers. To evaluate our algorithm, we have performed a simulation study. For different number of auctioneers per commodity, the experimental results show that our algorithm converges as well as the partially distributed version. Moreover, by splitting the search space among auctioneers, our algorithm accelerates the convergence.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Andersson, A., Ygge, F.: Managing large scale computational markets, Research Report 4/98, Department of Computer Science and Business Administration, University of Karlskrona/Ronneby, Sweden
Arrow, K., Block, H.D., Hurwicz, L.: On the stability of competitive equilibrium 2. Econometrica 27, 82–109 (1959)
Arrow, K.J., Debreu, G.: Existence of an equilibrium for a competitive economy. Econometrica 22, 265–290 (1954)
Buyya, R., Giddy, J., Abramson, D.: A Case for Economy Grid Architecture for Service-oriented Grid Computing. In: IPDPS 2001: Proceedings of the 10th Heterogeneous Computing Workshop (HCW 2001), San Francisco, California, USA, pp. 83–88 (April 2001)
Buyya, R., Stockinger, H., Giddy, J., Abramson, D.: Economic models for management of resources in peer-to-peer and grid computing. In: SPIE International Symposium on the Convergence of Information Technologies and Communications (ITCom 2001), August 20-24, Denver, Colorado (2001)
Cheng, J.Q., Wellman, M.P.: The WALRAS algorithm : a convergent distributed implementation of general equilibrium outcomes. Kluwer Academic Publishers (1998)
Gomes, E.R., Kowalczyk, R.: Learning in market-based resource allocation. In: 6th IEEE/ACIS International Conference on Computer and Information Science (ICIS 2007), pp. 475–482 (2007)
Knight, F.H.: Risk, uncertainty, and profit. Hart, Schaffner, and Marx Prize Essays, vol. 31. Houghton Mifflin, Boston (1921)
Sandholm, T., Ygge, F.: Constructing speculative demand functions in equilibrium markets. WUCS-99-26 (1999)
Smale, S.: Price adjustment and global Newton methods. Frontiers of Quantitative Economics, IIIA, 191–205 (1975)
Stuer, G., Vanmechelen, K., Broeckhove, J.: A commodity market algorithm for pricing substitutable grid resources. Future Generation Computer Systems 23(5), 688–701 (2007)
Walras, L.: Elements of pure economics. Allen and Unwin Originally published (1874) English translation by William Jaffé (1954)
Weng, C., Lu, X., Deng, Q.: A Distributed Approach for Resource Pricing in Grid Environments. In: Li, M., Sun, X.-H., Deng, Q.-n., Ni, J. (eds.) GCC 2003. LNCS, vol. 3033, pp. 620–627. Springer, Heidelberg (2004)
Wolski, R., Plank, J.S., Brevik, J., Bryan, T.: Analyzing market-based resource allocation strategies for the computational grid. International Journal of High Performance Computing Applications 15(3), 258–281 (2001)
Ygge, F.: Market-oriented programming and its application to power load management, Ph.D. thesis, Department of Computer Science, Lund University (1998)
Yuan, L., Zeng, G., Wang, W.: A Grid resource price-adjusting strategy based on price influence model. In: Proceedings of Fifth International Conference on Grid and Cooperative Computing (GCC 2006), pp. 311–318 (2006)
Zhao, X., Xu, L., Wang, B.: A Dynamic price model with demand prediction and task classification in grid. In: Proceedings of the Sixth International Conference on Grid and Cooperative Computing Table of Contents, pp. 775–782 (2007)
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2012 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Chourou, L., Elleuch, A., Jemni, M. (2012). Global Pricing in Large Scale Computational Markets. In: Li, R., Cao, J., Bourgeois, J. (eds) Advances in Grid and Pervasive Computing. GPC 2012. Lecture Notes in Computer Science, vol 7296. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-30767-6_23
Download citation
DOI: https://doi.org/10.1007/978-3-642-30767-6_23
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-30766-9
Online ISBN: 978-3-642-30767-6
eBook Packages: Computer ScienceComputer Science (R0)