Grid resource management based on economic mechanisms

Resources in the grid context belong to different control organizations with different interest, therefore the economic interest of each grid participant should be considered. The economic mechanism can guarantee the interest of participants in the grid with fairness and efficiency. In this paper, an economic-based resource management framework is put forward for grid computing, and then how to determine the price of resources with the economic mechanism is studied. A general equilibrium method is presented for general resources and a double auction method is proposed for special resources in the grid environment, respectively. Simulations are performed and experimental results indicate that the two methods are effective for corresponding application scenarios. Expanded version of a paper presented at CCGrid 2005.