Details

Autor(en) / Beteiligte

• Sharma, Bhanu
• Thulasiram, Ruppa K.
• Thulasiraman, Parimala
• Garg, Saurabh K.
• Buyya, Rajkumar

Titel

Pricing Cloud Compute Commodities: A Novel Financial Economic Model

Ist Teil von

• 2012 12th IEEE/ACM International Symposium on Cluster, Cloud and Grid Computing (ccgrid 2012), 2012, p.451-457

Ort / Verlag

Washington, DC, USA: IEEE Computer Society

Erscheinungsjahr

2012

Quelle

IEEE Xplore

Beschreibungen/Notizen

• In this study, we design, develop, and simulate a cloud resources pricing model that satisfies two important constraints: the dynamic ability of the model to provide a high satisfaction guarantee measured as Quality of Service (QoS) - from users perspectives, profitability constraints - from the cloud service providers perspectives We employ financial option theory and treat the cloud resources as underlying assets to capture the realistic value of the cloud compute commodities (C3). We then price the cloud resources using our model. We discuss the results for four different metrics that we introduce to guarantee the quality of service and price as follows: (a) Moore's law based depreciation of asset values, (b) new technology based volatility measures in capturing price changes, (c) a new financial option pricing based model combining the above two concepts, and (d) the effect of age of resources and depreciation of cloud resource on QoS. We show that the cloud parameters can be mapped to financial economic model and we discuss the results of cloud compute commodity pricing for various parameters, such as the age of the resource, quality of service, and contract period.