Resource trading in cloud environments for profit maximisation using an auction model

Abstract

Cloud computing is a promising computing paradigm for trading computing resources over internet. We consider the approach where the cloud provider (CP) rents free processors for its clients. Maximising reward is the key objective for the CP. The optimisation problem of renting processors on the cloud is a complex and challenging task. In addition to consider the requirements of the CP and clients, the commercialisation of clouds requires policies that take into account the economic concerns for the CP and clients. Within this context, we propose an optimal auction based on the concept of virtual valuation for renting processors. The concept of virtual valuation is used in our auction mechanism. Numerical analysis stresses the ability of our approach to maximise the CP's reward under varying cloud environment conditions.