Abstract
Market-oriented reverse auction is an efficient and cost-effective method for resource allocation in cloud workflow systems since it can dynamically allocate resources depending on the supply-demand relationship of the cloud market. However, during the auction the price of cloud resource is usually fixed, and the current resource allocation mechanisms cannot adapt to the changeable market properly which results in the low efficiency of resource utilization. To address such a problem, a dynamic pricing reverse auction-based resource allocation mechanism is proposed. During the auction, resource providers can change prices according to the trading situation so that our novel mechanism can increase the chances of making a deal and improve efficiency of resource utilization. In addition, resource providers can improve their competitiveness in the market by lowering prices, and thus users can obtain cheaper resources in shorter time which would decrease monetary cost and completion time for workflow execution. Experiments with different situations and problem sizes are conducted for dynamic pricing-based allocation mechanism (DPAM) on resource utilization and the measurement of Time⁎Cost (TC). The results show that our DPAM can outperform its representative in resource utilization, monetary cost, and completion time and also obtain the optimal price reduction rates.
Highlights
Workflow model is often used to manage complex business applications
We firstly present a dynamic pricing strategy to change resource prices according to the trading situation and present a dynamic pricing-based allocation mechanism (DPAM) mechanism to improve the efficiency of resource utilization
Experiments are conducted for evaluation of the performance of Biobjective Scheduling Strategy (BOSS) and DPAM on resource utilization and the measurement of TC with different situations and problem sizes
Summary
Workflow model is often used to manage complex business applications. A workflow is defined as a collection of tasks which are handled in a specific order [1, 2]. In DPAM, many providers with weak competitiveness use dynamic pricing strategy to increase winning chances and revenue, so that resource utilization of the cloud market increases. In our previous preliminary work, a dynamic pricing strategy in reserve auction was presented to change resource prices according to the trading situation, and a novel DPAM was proposed to improve the efficiency of resource utilization [14]. Dynamic pricing based allocation mechanism is designed to improve resource utilization and decrease monetary cost and completion time. (i) In reverse auction, dynamic pricing strategy is more effective to increase the revenue of providers with weak competitiveness and decrease users’ cost than fixed pricing.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
