This talk presents the design and implementation of the GridEcon Marketplace. In addition to supporting a market mechanism for trading computing resources on a pay-per-use basis, this marketplace also provides an environment for integrating value-added support services. These value-added services help consumers to use the utility computing market more efficiently. The GridEcon Market Mechanism for virtual machines specifies in detail the unit-of-trade, the bids and asks, as well as the matching algorithm. The marketplace and market mechanism are validated by using the GridEcon Platform, which is a service-oriented platform for composing market scenarios.Our validation results show that the GridEcon Marketplace fulfills all functional requirements and that the GridEcon Market Mechanism is computationally and economically efficient.
Jörn Altmann is Associate Professor for Technology Management, Economics and Policy at the College of Engineering, Seoul National University. Prior to this, he taught computer networks at the University of California at Berkeley, worked as a Senior Scientist at Hewlett-Packard Labs, and has been a postdoc at EECS and ICSI of UC Berkeley. During that time he worked on international research projects about pricing of network services. Dr. Altmann received his B.Sc. degree, his M.Sc. degree (1993), and his Ph.D. (1996) from the University of Erlangen-Nürnberg, Germany. Dr. Altmann’s current research centers on the economics of Internet services and Internet infrastructures, integrating economic models into distributed systems. In particular, he puts special focus on capacity planning, network topologies, and resource allocation.
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