Market-oriented Resource Allocation Research Articles

Collective Action Problems and Resource Allocation During Market Formation

Collective action is critical for successful market formation. However, relatively little is known about how and under what conditions actors overcome collective action problems to successfully form new markets. Using the benefits of simulation methods, we uncover how collective action problems result from actor resource allocation decisions interacting with each other and how the severity of these problems depends on central market- and actor-related characteristics. Specifically, we show that collective action problems occur when actors undervalue the benefits of market-oriented resource allocation and when actors contribute resources that are imperfectly substitutable. Furthermore, we show that collective action problems occur when actors are embedded in networks with others sharing a similar role in market formation. Collectively, our findings contribute new insights to organization theory regarding collective action and market formation and to strategy on value creation and strategic decision making regarding resource allocation.

Institutional Relationships，Start-up Size and Growth of Start-ups

China is currently facing problems such as declining marginal output of investment, overcapacity, and insufficient innovation drive. It is urgent to obtain new growth momentum through innovation and entrepreneurship. “Mass entrepreneurship and innovation” is exactly the strategy advocated by the central government. Inspired by this strategy, some government officials and heads of state-owned enterprises also decide to quit their jobs and seek out entrepreneurial opportunities outside the system. The existing literature only focuses on the impact of institutional relationships on whether the individual will start a business, and does not really reflect the value of institutional relationships in entrepreneurial activities. Therefore, the more important research question is whether entrepreneurial institutional relationships will affect the initial size of start-ups and the long-term growth in the future when the entrepreneur leaves the system for business. If there is a significant impact, then “what are the impact channels” is also an important issue.We empirically test the impact of entrepreneurial institutional relationships on the size and long-term growth of start-ups. The data used in this study come from the 7th to the 10th Private Enterprise Survey data in 2006, 2008, 2010 and 2012. The results show that, compared with entrepreneurs from outside the system, the scale of entrepreneurs created by entrepreneurs with institutional relationships（former government official or head of state-owned enterprise）is 19.7 percentage points higher, and the compound growth rate of start-ups is 1.9 percentage points higher. Furthermore, we find that entrepreneurs who serve as public servants or SOE managers depend more on bank loans or restructured SOEs to obtain seed capital. They are more familiar with the government’s support policy, and more likely to get NPC deputies and CPPCC members or leaders of the Federation of Industry and Commerce. It can be seen that the above entrepreneurs have the advantages of resource acquisition, information superiority and political identity, which is beneficial for entrepreneurs to achieve better entrepreneurial results. Finally, this paper also finds that institutional relationships play a more limited role in regions with more developed financial industries.This paper shows that the informal institution such as institutional relationships play an important role when the formal institution is incomplete. In order to achieve the “mass entrepreneurship and innovation” strategy, we need to create a fairer and more just entrepreneurial environment, and promote the reform from administrative orientation to market-oriented resource allocation. This paper not only makes an important supplement to the relevant literature, but also provides valuable policy inspiration for China’s “mass entrepreneurship and innovation” strategy.

Comprehensive Research and Application of Cloud Computing in Enterprises

With a crucial development of information and communications technology over the last century, there is an increasingly perceived vision that computing will be the 5 th utility in human's civilization. Like all other four existing utilities, this computing utility will provide basic level of computing service which is considered essential to meet everyday needs of the general community. In order to deliver this vision, a number of computing paradigms have been proposed, of which the latest one is known as Cloud computing. Therefore, in this paper, we introduced the definition of Cloud computing and provide the architecture for creating Clouds with market-oriented resource allocation by leveraging technologies. We also provide a hypothetical case analysis to show the economical efficiency for medium-sized enterprise to deploy servers on the cloud instead of establishing server center of their own. Finally, a conclusion is drawn that there is need for convergence of competing IT paradigms to deliver our new century vision and it is economical efficient for medium-sized enterprise to use cloud computing services.

Cloud Computing: Future Generation Computing Systemsas the 5th Utility

Cloud computing is the emerging computing platform by providing the computing utilities as service such as platform, software and storage. By the latest advancements in Information and Communications Technology last previous half century, there is an increasing perceived vision that computing is going be the 5th most wanted utility after electricity, telephony, gas, and water. The computing utility is like all other four necessary utilities. It will provide the basic level of computing service that is assumed essential to meet the everyday needs of the general public. In this paper, we define Cloud computing and included the architecture for creating Clouds with market-oriented resource allocation by latest technologies like Virtual Machines. We also provide insights on market-based resource management techniques that encompass both customer-driven service management and computational risk management to sustain Service Level Agreement oriented resource allocation. Finally, we conclude with the need of IT technologies to deliver our current vision of computing.

Grid Resource Discovery Strategies Base on Multi-Economic Agent

The paper presents a market oriented resource allocation strategy for grid resource. The proposed model uses the utility functions for calculating the utility of a resource allocation. This paper is target to solve above issues by using utility-based optimization scheme. We firstly point out the factors that influence the resources’ prices; then make out the trading flow for resource consumer agents and provider agents. By doing these, the two trading agents can decide their price due to the dynamic changes of the Grid environment without any manmade interferences. Total user benefit of the computational grid is maximized when the equilibrium prices are obtained through the consumer’s market optimization and provider’s market optimization. The economic model is the basis of an iterative algorithm that, given a finite set of requests, is used to perform optimal resource allocation.

Multi-Economic Agent Grid Resource Allocation Strategies in the Signaling Game Theory Analysis Model

The paper presents a market oriented resource allocation strategy for grid resource. The proposed model uses the utility functions for calculating the utility of a resource allocation. This paper is target to solve above issues by using utility-based optimization scheme. We firstly point out the factors that influence the resources’ prices; then make out the trading flow for resource consumer agents and provider agents. By doing these, the two trading agents can decide their price due to the dynamic changes of the Grid environment without any manmade interferences. Total user benefit of the computational grid is maximized when the equilibrium prices are obtained through the consumer’s market optimization and provider’s market optimization. The economic model is the basis of an iterative algorithm that, given a finite set of requests, is used to perform optimal resource allocation.

Market-Oriented Cloud Computing - Delivering IT Services as Computing Utilities

This paper provides information about 21st century vision of computing, identifies various computing paradigms promising to deliver the vision of computing utilities, defines Cloud computing and provides the architecture for creating market-oriented Clouds by leveraging technologies such as VMs, Cloud platforms especially those developed in industries along with our current work towards realizing the market-oriented resource allocation of Clouds and concludes with the need for convergence of competing IT paradigms for delivering our 21 st century vision.

Cloud computing and emerging IT platforms: Vision, hype, and reality for delivering computing as the 5th utility

With the significant advances in Information and Communications Technology (ICT) over the last half century, there is an increasingly perceived vision that computing will one day be the 5th utility (after water, electricity, gas, and telephony). This computing utility, like all other four existing utilities, will provide the basic level of computing service that is considered essential to meet the everyday needs of the general community. To deliver this vision, a number of computing paradigms have been proposed, of which the latest one is known as Cloud computing. Hence, in this paper, we define Cloud computing and provide the architecture for creating Clouds with market-oriented resource allocation by leveraging technologies such as Virtual Machines (VMs). We also provide insights on market-based resource management strategies that encompass both customer-driven service management and computational risk management to sustain Service Level Agreement (SLA)-oriented resource allocation. In addition, we reveal our early thoughts on interconnecting Clouds for dynamically creating global Cloud exchanges and markets. Then, we present some representative Cloud platforms, especially those developed in industries, along with our current work towards realizing market-oriented resource allocation of Clouds as realized in Aneka enterprise Cloud technology. Furthermore, we highlight the difference between High Performance Computing (HPC) workload and Internet-based services workload. We also describe a meta-negotiation infrastructure to establish global Cloud exchanges and markets, and illustrate a case study of harnessing ‘Storage Clouds’ for high performance content delivery. Finally, we conclude with the need for convergence of competing IT paradigms to deliver our 21st century vision.

A distributed decomposition policy for computational grid resource allocation optimization based on utility functions

This paper presents a market-oriented resource allocation strategy for grid resource. The proposed model uses the utility functions for calculating the utility of a resource allocation. This allows the integration of different optimization objectives into allocation process. This paper is targeted to solve the above issues by using utility-based optimization scheme. We decompose the optimization problem into two levels of sub problems so that the computational complexity is reduced. Two market levels converge to its optimal points; a globally optimal point is achieved. Total user benefit of the computational grid is maximized when the equilibrium prices are obtained through the service market level optimization and resource market level optimization. The economic model is the basis of an iterative algorithm that, given a finite set of requests, is used to perform optimal resource allocation. The experiments show that scheduling based on pricing directed resource allocation involves less overhead and leads to more efficient resource allocation than conventional Round-Robin scheduling.