Analyzing market-based resource allocation strategies for the computational grid

In this paper, we investigate G-commerce — computational economies for controlling resource allocation in Computational Grid settings. We de-fine hypothetical resource consumers (represent-ing users and Grid-aware applications) and re-source producers (representing resource owners who “sell ” their resources to the Grid). We then measure the efficiency of resource allocation un-der two different market conditions: commodities markets and auctions. We compare both mar-ket strategies in terms of price stability, market equilibrium, consumer efficiency, and producer efficiency. Our results indicate that commodities markets are a better choice for controlling Grid resources than previously defined auction strate-gies.