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GridEcon: A Market Place for Computing Resources

Altmann, Costas Courcoubetis, Georges D. Stamoulis, Manos Dramitinos, Thierry Rayna, Marcel Risch, Chris Bannink

Book Chapter
5th International Workshop, GECON 2008, Las Palmas de Gran Canaria, Spain, August 26, 2008
Grid Economics and Business Models
Lecture Notes in Computer Science
Volume 5206
August, 2008
Springer Berlin / Heidelberg
ISBN 978-3-540-85484-5
DOI 10.1007/978-3-540-85485-2_15

This paper discusses the rationales for a Grid market and, in particular, the introduction of a market place for trading commoditized computing resources. The market place proposed makes computing resources from different providers substitutable through virtualization. This includes the definition of a spot and future market as well as the parameters that a market mechanism for computing resources should consider. The above market place is complemented by a set of value-added services (e.g. insurance against resource failures, capacity planning, resource quality assurance, stable price offering) that ensure quality for Grid users over time. The market place technology for all of the above services has been designed by the GridEcon project, contributing to a broader adoption of Grid technology and enabling a service-oriented knowledge utility environment.

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