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Enabling Open Cloud Markets Through WS-Agreement Extensions

Author

Listed:
  • Marcel Risch
  • Jorn Altmann

    (Technology Management, Economics, and Policy Program (TEMEP); Seoul National University)

Abstract

Research into computing resource markets has mainly considered the question of which market mechanisms provide a fair resource allocation. However, while developing such markets, the definition of the unit of trade (i.e. the definition of resource) has not been given much attention. In this paper, we analyze the requirements for tradable resource goods. Based on the results, we suggest a detailed goods definition, which is easy to understand, can be used with many market mechanisms, and addresses the needs of a Cloud resource market. The goods definition captures the complete system resource, including hardware specifications, software specifications, the terms of use, and a pricing function. To demonstrate the usefulness of such a standardized goods definition, we demonstrate its application in the form of a WSAgreement template for a number of market mechanisms for commodity system resources.

Suggested Citation

  • Marcel Risch & Jorn Altmann, 2009. "Enabling Open Cloud Markets Through WS-Agreement Extensions," TEMEP Discussion Papers 200920, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Oct 2009.
    • Handle: RePEc:snv:dp2009:200920
    as

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    File URL: http://temep-repec.my-groups.de/DP-20.pdf
    File Function: First version, 2009
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    References listed on IDEAS

    as
    1. Kevin Lai & Lars Rasmusson, 2005. "Tycoon: an Implementation of a Distributed, Market-based Resource Allocation System," Computing in Economics and Finance 2005 6, Society for Computational Economics.
    2. Schnizler, Bjorn & Neumann, Dirk & Veit, Daniel & Weinhardt, Christof, 2008. "Trading grid services - a multi-attribute combinatorial approach," European Journal of Operational Research, Elsevier, vol. 187(3), pages 943-961, June.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ivan Breskovic & Ivona Brandic & Jorn Altmann, 2013. "Maximizing Liquidity in Cloud Markets through Standardization of Computational Resources," TEMEP Discussion Papers 2013100, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Feb 2013.
    2. Ivan Breskovic & Jorn Altmann & Ivona Brandic, 2012. "Creating Standardized Products for Electronic Markets," TEMEP Discussion Papers 201296, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Sep 2012.
    3. Michael Maurera & Vincent C. Emeakarohaa & Ivona Brandica & Jorn Altmann, 2011. "Cost–Benefit Analysis of an SLA Mapping Approach for Defining Standardized Cloud Computing Goods," TEMEP Discussion Papers 201177, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Jul 2011.
    4. Juthasit Rohitratana & Jorn Altmann, 2012. "Impact of Pricing Schemes on a Market for Software-as-a-Service and Perpetual Software," TEMEP Discussion Papers 201288, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Mar 2012.
    5. Radoslaw R. Okulski & Almas Heshmati, 2010. "Time Series Analysis of Global Airline Passengers Transportation Industry," TEMEP Discussion Papers 201065, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Jul 2010.

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    More about this item

    Keywords

    Grid economics; unit of trade; system resource trading; Cloud computing market; system virtualization; contract templates; WS-agreements; service level contract; Cloud economics.;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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