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Increasing number of the cloud-based Internet applications demands for efficient resource and cost management. This paper proposes a real-time group auction system for the cloud instance market. The system is designed based on a combinatorial double auction, and its applicability and effectiveness are evaluated in terms of resource efficiency and monetary benefits to auction participants (e.g., cloud users and providers). The proposed auction system assists them to decide when and how providers allocate their resources to which users. Furthermore, the authors propose a distributed algorithm using a group formation game that determines which users and providers will trade resources by their cooperative decisions.
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