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The emerging federated cloud paradigm advocates sharing of resources among cloud providers, to exploit temporal availability of resources and diversity of operational costs for job serving. While extensive studies exist on enabling interoperability across different cloud platforms, a fundamental question on cloud economics remains unanswered: When and how should a cloud trade VMs with others, such that its net profit is maximized over the long run? In order to answer this question by the federation, a number of important, correlated decisions, including job scheduling, server provisioning and resource pricing, need to be dynamically made, with long-term profit optimality being a goal.
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