Virtual resource pricing scheme in cloud platforms. (2018)

• Record Type: Journal Article
• Authors: Hu, Ying; Xiao, Ze
• Is Part Of: International journal of networking and virtual organisations. Volume 18:Number 1(2018)
• Page Start: 67
• Page End: 79
• Publication Date: 2018
• Subjects: virtual resource -- quality of service -- QoS -- pricing scheme -- load balance; Computer networks -- Periodicals; Information networks -- Periodicals; Virtual corporations -- Periodicals; Electronic commerce -- Periodicals; Management information systems -- Periodicals; Management -- Data processing -- Periodicals; 004.65
• Languages: English
• ISSNs: 1470-9503

Abstract

Recently, economic model has been widely applied in cloud platforms for regulating virtual resource sharing. In the economic model, resource pricing scheme plays a key role for managing the relationship between cloud users and cloud providers. In this paper, we present a novel pricing scheme for virtual resource provision with aiming at improving resource utilisation and reducing operational costs for cloud providers. Unlike previous studies, the proposed pricing scheme applies producer-retailer-client model to describe the procedure of virtual resource trade and provides the optimal pricing solution by using gaming theory. Extensive experiments are conducted in a real-world cloud platform, and the results demonstrate that the proposed pricing scheme outperforms other approaches in terms of the increased profit and the reduction of variance of virtual resource prices.