Allocation of Resource Using Penny Auction in Cloud Computing

Abstract

Allocation of resource using dynamic pricing is an important challenge in Cloud computing. Auction can be used for this problem. Auctioneer is considered as an entity that performs auction. In most of the variants of auction, auctioneer does not get any benefits to perform auction, i.e., there is no motivation to encourage auctioneer. In this work, a model is proposed using penny auction for allocation of resources and their pricing in such a way that auctioneer also gets some benefit. In proposed work, customers have to pay a non-refundable fee to participate in auction. Proposed work is elaborated by an example and future direction is also provided.