Economic Models for Cloud Service Markets
Cloud computing is a type of Internet-based computing, where shared resources, hardware, software, and information are provided to end-users in an on demand fashion. It is a paradigm that has the potential to transform and revolutionalize the IT industry by making software available to end-users as a service. A public cloud typically comprises of hardware (network of servers) and a collection of softwares that is made available to the general public in a pay-as-you-go manner. Typical examples of companies providing public clouds include Amazon, Google, Microsoft, E-Bay, and commercial banks.