Financial Option Market Model for Federated Cloud Environments
Source: University of Manchester
Pay-per-use service by Cloud service providers has attracted customers in the recent past and is still evolving. Since the resources being dealt within Clouds are non-storable and the physical resources need to be replaced very often, pricing the service in a way that would return profit on the initial capital investments to the service providers has been a major issue. Moreover, to maintain Quality of Service (QoS) to customers who reserve the resources in advance and may or may not be using the resources at a future date makes the resources wasted, if not allocated to other on-demand users.