Dynamic Resource Allocation for Spot Markets in Cloud Computing Environments

Download Now Date Added: Oct 2011
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The advent of cloud computing promises to provide computational resources to customers like public utilities such as water and electricity. To deal with dynamically fluctuating resource demands, market-driven resource allocation has been proposed and recently implemented by public Infrastructure-as-a-Service (IaaS) providers like Amazon EC2. In this environment, cloud resources are offered in distinct types of Virtual Machines (VMs) and the cloud provider runs an auction-based market for each VM type with the goal of achieving maximum revenue over time.