Gridmarket: A Practical, Efficient Market Balancing Resource for Grid and

Abstract. The emergency of computational Grid and Peer-to-Peer (P2P) computing system is promising to us. It challenges us to build a system to maximize collective utilities through presumed participants’ rational behavior. Although economic theories sound reasonable, many existent or proposed solutions based on that face problem of feasibility in practice. This paper proposes Gridmarket: an infrastructure relying on resource standardization, continuous double auction, and straightfor-ward pricing algorithms which are based on price elasticity inherent in consumers and suppliers. Gridmarket efficiently equates resource’s de-mand with supply through continuous double auction and price trac-ing mechanism in the required price ranges. Software agent employing Gridmarket’s schedule is easy to write. To demonstrate its efficacy and efficiency, we have designed, built a simulation prototype and found the experiments promising.