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Using a Predator-Prey Model to Explain Variations of Cloud Spot Price

Li, Zheng LU ; Tärneberg, William LU ; Kihl, Maria LU and Robertsson, Anders LU (2016) 6th International Conference on Cloud Computing and Services Science, CLOSER 2016 In Proceedings of the 6th International Conference on Cloud Computing and Services Science (CLOSER 2016) p.1-8
Abstract
The spot pricing scheme has been considered to be resource-efficient for providers and cost-effective for consumers in the Cloud market. Nevertheless, unlike the static and straightforward strategies of trading on-demand and reserved Cloud services, the market-driven mechanism for trading spot service would be complicated for both implementation and understanding. The largely invisible market activities and their complex interactions could especially make Cloud consumers hesitate to enter the spot market. To reduce the complexity in understanding the Cloud spot market, we decided to reveal the backend information behind spot price variations. Inspired by the methodology of reverse engineering, we developed a Predator-Prey model that can... (More)
The spot pricing scheme has been considered to be resource-efficient for providers and cost-effective for consumers in the Cloud market. Nevertheless, unlike the static and straightforward strategies of trading on-demand and reserved Cloud services, the market-driven mechanism for trading spot service would be complicated for both implementation and understanding. The largely invisible market activities and their complex interactions could especially make Cloud consumers hesitate to enter the spot market. To reduce the complexity in understanding the Cloud spot market, we decided to reveal the backend information behind spot price variations. Inspired by the methodology of reverse engineering, we developed a Predator-Prey model that can simulate the interactions between demand and resource based on the visible spot price traces. The simulation results have shown some basic regular patterns of market activities with respect to Amazon’s spot instance type m3.large. Although the findings of this study need further validation by using practical data, our work essentially suggests a promising approach (i.e. using a Predator-Prey model) to investigate spot market activities. (Less)
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organization
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type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
in
Proceedings of the 6th International Conference on Cloud Computing and Services Science (CLOSER 2016)
pages
8 pages
publisher
SciTePress
conference name
6th International Conference on Cloud Computing and Services Science, CLOSER 2016
external identifiers
  • Scopus:84979609007
language
English
LU publication?
yes
id
3f8f6590-897f-4d32-9968-02bd44439751
date added to LUP
2016-05-06 02:47:34
date last changed
2016-11-06 04:37:40
@misc{3f8f6590-897f-4d32-9968-02bd44439751,
  abstract     = {The spot pricing scheme has been considered to be resource-efficient for providers and cost-effective for consumers in the Cloud market. Nevertheless, unlike the static and straightforward strategies of trading on-demand and reserved Cloud services, the market-driven mechanism for trading spot service would be complicated for both implementation and understanding. The largely invisible market activities and their complex interactions could especially make Cloud consumers hesitate to enter the spot market. To reduce the complexity in understanding the Cloud spot market, we decided to reveal the backend information behind spot price variations. Inspired by the methodology of reverse engineering, we developed a Predator-Prey model that can simulate the interactions between demand and resource based on the visible spot price traces. The simulation results have shown some basic regular patterns of market activities with respect to Amazon’s spot instance type m3.large. Although the findings of this study need further validation by using practical data, our work essentially suggests a promising approach (i.e. using a Predator-Prey model) to investigate spot market activities.},
  author       = {Li, Zheng and Tärneberg, William and Kihl, Maria and Robertsson, Anders},
  language     = {eng},
  pages        = {1--8},
  publisher    = {ARRAY(0x879bab8)},
  series       = {Proceedings of the 6th International Conference on Cloud Computing and Services Science (CLOSER 2016)},
  title        = {Using a Predator-Prey Model to Explain Variations of Cloud Spot Price},
  year         = {2016},
}