Economics of Grids, Clouds, Systems, and Services

Economic models can motivate resource providers to share resources across multiple administrations in Grid computing. Our survey on existing economic models in Grid computing identified that different economic models are suitable for different scenarios. In this paper, we conduct an experiment to quantify the strengths and weaknesses of widely proposed economic models in the Grid Commodity Market, Continuous Double Auction, English Auction, Contract-Net-Protocol and Bargaining. Based on this experimental analysis, we identify regions where a particular economic model outperforms others. Then, we indicate that switching between the economic models could be used to maximize benefits in a specific scenario.