Spot Pricing in the Cloud Ecosystem: A Comparative Investigation

Zheng Li; He Zhang; Liam O'Brien; Shu Jiang; You Zhou; Maria Kihl; Rajiv Ranjan

doi:10.1016/j.jss.2015.10.042

Spot Pricing in the Cloud Ecosystem: A Comparative Investigation

Zheng Li, He Zhang, Liam O'Brien, Shu Jiang, You Zhou, Maria Kihl, Rajiv Ranjan

Research output: Contribution to journal › Review article › peer-review

711 Downloads (Pure)

Abstract

Background: Spot pricing is considered as a significant supplement for building a full-fledged market economy for the Cloud ecosystem. However, it seems that both providers and consumers are still hesitating to enter the Cloud spot market. The relevant academic community also has conflicting opinions about Cloud spot pricing in terms of revenue generation.
Aim: This work aims to systematically identify, assess, synthesize and report the published evidence in favor of or against spot-price scheme compared with fixed-price scheme of Cloud computing, so as to help relieve the aforementioned conflict.
Method: We employed the systematic literature review (SLR) method to collect and investigate the empirical studies of Cloud spot pricing indexed by major electronic libraries.
Results: This SLR identified 61 primary studies that either delivered discussions or conducted experiments to perform comparison between spot pricing and fixed pricing in the Cloud domain. The reported benefits and limitations were summarized to facilitate cost-benefit analysis of being a Cloud spot pricing player, while four types of theories were distinguished to help both researchers and practitioners better understand the Cloud spot market.
Conclusions: This SLR shows that the academic community strongly advocates the emerging Cloud spot market. Although there is still a lack of practical and easily deployable market-driven mechanisms, the overall findings of our work indicate that spot pricing plays a promising role in the sustainability of Cloud resource exploitation.

Original language	English
Pages (from-to)	1-19
Number of pages	19
Journal	Journal of Systems and Software
Volume	114
Issue number	1
DOIs	https://doi.org/10.1016/j.jss.2015.10.042
Publication status	Published - 2016 Apr

Subject classification (UKÄ)

Other Electrical Engineering, Electronic Engineering, Information Engineering

Access to Document

10.1016/j.jss.2015.10.042

Spot Pricing in the Cloud Ecosystem: A Comparative InvestigationAccepted author manuscript, 1.47 MB

EIT_VR CLOUD Cloud Control
Papadopoulos, A. V. (Researcher), Robertsson, A. (Researcher), Åkesson, J. (Researcher), Årzén, K.-E. (Researcher), Maggio, M. (Researcher), Dellkrantz, M. (Researcher), Tärneberg, W. (Researcher), Li, Z. (Researcher), Dürango, J. (Researcher) & Kihl, M. (Researcher)
2013/01/01 → 2016/12/31
Project: Research
LCCC
Holmqvist, A. (Researcher), Andersson, N. (Researcher), Cervin, A. (Researcher), Mannesson, A. (Researcher), Gattami, A. (Researcher), Ghulchak, A. (Researcher), Papadopoulos, A. V. (Researcher), Rantzer, A. (Researcher), Robertsson, A. (Researcher), Sootla, A. (Researcher), THEORIN, A. (Researcher), Bernhardsson, B. (Researcher), Olofsson, B. (Researcher), Wittenmark, B. (Researcher), Grussler, C. (Researcher), Johnsson, C. (Researcher), MADJIDIAN, D. (Researcher), Johannesson, E. (Researcher), Magnusson, F. (Researcher), Ståhl, F. (Researcher), Como, G. (Researcher), Chasparis, G. (Researcher), Turesson, G. (Researcher), Dressler, I. (Researcher), Åkesson, J. (Researcher), Cho, J. H. (Researcher), Årzén, K.-E. (Researcher), Åström, K. J. (Researcher), Sou, K. C. (Researcher), Mårtensson, K. (Researcher), Berntorp, K. (Researcher), Soltesz, K. (Researcher), Lessard, L. (Researcher), Hast, M. (Researcher), Rönn, M. (Researcher), Ansbjerg Kjær, M. (Researcher), Maggio, M. (Researcher), Kristalny, M. (Researcher), Garpinger, O. (Researcher), From, P. J. (Researcher), Larsson, P.-O. (Researcher), Giselsson, P. (Researcher), Johansson, R. (Researcher), Hägglund, T. (Researcher), Vladimerou, V. (Researcher), Romero Segovia, V. (Researcher), Aurelius, A. (Researcher), Cedersjö, G. (Researcher), Bür, K. (Researcher), Dellkrantz, M. (Researcher), Du, M. (Researcher), Amani, P. (Researcher), Larsson, R. (Researcher), Tärneberg, W. (Research student), Li, Z. (Researcher), Yin, L. (Researcher), Tufvesson, F. (Researcher), Höst, S. (Researcher), Nilsson, B. (Researcher), Stenström, S. (Researcher), Andersson, J. A. (Researcher), Diehl, S. (Researcher), Dürango, J. (Researcher), Ghazaei Ardakani, M. (Researcher), Forsberg, P.-O. (Researcher), Bengtsson, F. (Researcher), Jörntell, H. (Researcher), Arévalo, C. (Researcher), Führer, C. (Researcher), Andersson, C. (Researcher), Mohammadi, F. (Researcher), Ödling, P. (Researcher), Andersson, M. (Researcher), Kihl, M. (Researcher) & Tunestål, P. (Researcher)
2008/07/01 → 2018/06/30
Project: Research

Cite this

@article{b39fdcd37f2b4959a69dc9d56a2b0aee,

title = "Spot Pricing in the Cloud Ecosystem: A Comparative Investigation",

abstract = "Background: Spot pricing is considered as a significant supplement for building a full-fledged market economy for the Cloud ecosystem. However, it seems that both providers and consumers are still hesitating to enter the Cloud spot market. The relevant academic community also has conflicting opinions about Cloud spot pricing in terms of revenue generation. Aim: This work aims to systematically identify, assess, synthesize and report the published evidence in favor of or against spot-price scheme compared with fixed-price scheme of Cloud computing, so as to help relieve the aforementioned conflict. Method: We employed the systematic literature review (SLR) method to collect and investigate the empirical studies of Cloud spot pricing indexed by major electronic libraries. Results: This SLR identified 61 primary studies that either delivered discussions or conducted experiments to perform comparison between spot pricing and fixed pricing in the Cloud domain. The reported benefits and limitations were summarized to facilitate cost-benefit analysis of being a Cloud spot pricing player, while four types of theories were distinguished to help both researchers and practitioners better understand the Cloud spot market. Conclusions: This SLR shows that the academic community strongly advocates the emerging Cloud spot market. Although there is still a lack of practical and easily deployable market-driven mechanisms, the overall findings of our work indicate that spot pricing plays a promising role in the sustainability of Cloud resource exploitation.",

author = "Zheng Li and He Zhang and Liam O'Brien and Shu Jiang and You Zhou and Maria Kihl and Rajiv Ranjan",

year = "2016",

month = apr,

doi = "10.1016/j.jss.2015.10.042",

language = "English",

volume = "114",

pages = "1--19",

journal = "Journal of Systems and Software",

issn = "0164-1212",

publisher = "Elsevier",

number = "1",

}

TY - JOUR

T1 - Spot Pricing in the Cloud Ecosystem: A Comparative Investigation

AU - Li, Zheng

AU - Zhang, He

AU - O'Brien, Liam

AU - Jiang, Shu

AU - Zhou, You

AU - Kihl, Maria

AU - Ranjan, Rajiv

PY - 2016/4

Y1 - 2016/4

N2 - Background: Spot pricing is considered as a significant supplement for building a full-fledged market economy for the Cloud ecosystem. However, it seems that both providers and consumers are still hesitating to enter the Cloud spot market. The relevant academic community also has conflicting opinions about Cloud spot pricing in terms of revenue generation. Aim: This work aims to systematically identify, assess, synthesize and report the published evidence in favor of or against spot-price scheme compared with fixed-price scheme of Cloud computing, so as to help relieve the aforementioned conflict. Method: We employed the systematic literature review (SLR) method to collect and investigate the empirical studies of Cloud spot pricing indexed by major electronic libraries. Results: This SLR identified 61 primary studies that either delivered discussions or conducted experiments to perform comparison between spot pricing and fixed pricing in the Cloud domain. The reported benefits and limitations were summarized to facilitate cost-benefit analysis of being a Cloud spot pricing player, while four types of theories were distinguished to help both researchers and practitioners better understand the Cloud spot market. Conclusions: This SLR shows that the academic community strongly advocates the emerging Cloud spot market. Although there is still a lack of practical and easily deployable market-driven mechanisms, the overall findings of our work indicate that spot pricing plays a promising role in the sustainability of Cloud resource exploitation.

AB - Background: Spot pricing is considered as a significant supplement for building a full-fledged market economy for the Cloud ecosystem. However, it seems that both providers and consumers are still hesitating to enter the Cloud spot market. The relevant academic community also has conflicting opinions about Cloud spot pricing in terms of revenue generation. Aim: This work aims to systematically identify, assess, synthesize and report the published evidence in favor of or against spot-price scheme compared with fixed-price scheme of Cloud computing, so as to help relieve the aforementioned conflict. Method: We employed the systematic literature review (SLR) method to collect and investigate the empirical studies of Cloud spot pricing indexed by major electronic libraries. Results: This SLR identified 61 primary studies that either delivered discussions or conducted experiments to perform comparison between spot pricing and fixed pricing in the Cloud domain. The reported benefits and limitations were summarized to facilitate cost-benefit analysis of being a Cloud spot pricing player, while four types of theories were distinguished to help both researchers and practitioners better understand the Cloud spot market. Conclusions: This SLR shows that the academic community strongly advocates the emerging Cloud spot market. Although there is still a lack of practical and easily deployable market-driven mechanisms, the overall findings of our work indicate that spot pricing plays a promising role in the sustainability of Cloud resource exploitation.

U2 - 10.1016/j.jss.2015.10.042

DO - 10.1016/j.jss.2015.10.042

M3 - Review article

SN - 0164-1212

VL - 114

SP - 1

EP - 19

JO - Journal of Systems and Software

JF - Journal of Systems and Software

IS - 1

ER -

Spot Pricing in the Cloud Ecosystem: A Comparative Investigation

Abstract

Subject classification (UKÄ)

Access to Document

Fingerprint

Projects

EIT_VR CLOUD Cloud Control

LCCC

Cite this