Overview of the auction mechanisms for pricing and allocation of the cloud provider’s resources

Abstract

Comprehensive development of cloud computing requires improvement of appropriate mechanisms for cloud provider’s resource allocation and pricing. Considering the characteristics of cloud resources and the fact that demand for cloud resources is not uniform, dynamic mechanisms for resource allocation and pricing are needed. The aims of dynamic mechanisms are optimization of resources’ utilization and revenue maximization of cloud providers, as well as prices minimization for cloud customers. It appears that some auction model can be vary efficient since resources are allocated to the customers that value them the most, and prices are determinated depending on the supply and demand conditions. Combinatorial auctions, double auctions and their combination are most often used for cloud resources’ allocation and pricing. In this paper, the overview of some proposed auction models is provided.

Keywords

• cloud computing
• pricing
• allocation of resources
• auctions