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Enabling Open Cloud Markets Through WS-Agreement Extensions

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Author Info

  • 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.

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Bibliographic Info

Paper provided by Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) in its series TEMEP Discussion Papers with number 200920.

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Length: 17 pages
Date of creation: Oct 2009
Date of revision: Oct 2009
Publication status: Published in Service Level Agreements in Grids Workshop, in conjunction with GRID2009, CoreGRID Springer Series, Banff, Canada, October 2009
Handle: RePEc:snv:dp2009:200920

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Related research

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

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References

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  1. 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.
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Cited by:
  1. 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.
  2. 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.
  3. 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.
  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.

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