Abstract
Grid computing has emerged as an effective mechanism for allocating globally available surplus computational capacity to applications whose requirements exceed local capacity. It is often viewed as a commodity exchange with additional grid computing specific constraints that may arise due to requirements on multiple resources (e.g., disk space) in addition to computing power. These constraints are related to complementarity and substitution effects among resources, and significantly alter the assumptions typically used for demonstrating the existence of market equilibrium. However, prior work in grid computing has simply assumed that market equilibria exist. Our work fills this gap by studying the existence of market equilibrium under the grid computing environment. To do so, we first establish an economic framework that incorporates the grid computing specific constraints into a commodity market. We next derive some intuitive necessary conditions based on the computing requirements of individual agents. We finally establish the existence of regular markets as a competitive equilibrium, given that these necessary conditions are met and that the agents’ utility functions satisfy some minimal requirements. In the process, we also show existence of competitive equilibrium for the special case of grid computing as a pure exchange economy.
Highlights
We show existence of competitive equilibrium for the special case of grid computing as a pure exchange economy1
Under some standard assumptions on agents’ utilities, we show that these equilibria do exist in the presence of the first two grid computing specific requirements of complementarity and substitution, given that some basic necessary conditions that capture the third requirement of job-must-be-finished at an aggregate level
We have examined the existence of grid computing markets
Summary
As the number of computers connected to the Internet grows, the number of idle ones at any instance grows. A variety of economic models that have been used in the context of selling goods and services are relevant to grid computing: each of these entails a different model for setting the price of the resources or goods based on supply-and-demand and their utility to the agent These works include monopoly markets [1618], competitive markets [2,15,19] as well as auctions [11,20]. Grid computing markets can be thought of as a way for exchanging commodities, these markets have additional constraints on what bundles can be bought and sold at a certain time These bundles may arise due to requirements on multiple resources, such as disk space, memory bandwidth, etc. A grid computing bundle may require a certain amount of disk space in addition to computing power This suggests that certain complementarity and substitution affects may exist among various resources in the grid computing market. Such a study is helpful to IT managers as it would unequivocally assure that grid markets are feasible and importantly would provide guidance to Grid market operators such as France Telecom for Mobile Grids, Sun Microsystems for Computational and Data Grids, etc. in developing practical mechanisms that are critical to the development of robust grid markets in a real world competitive environment within which these firms operate [24]
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