A Hedonic Pricing Mechanism in Grid Based on Dynamic Alliance

In the market-oriented grid system, price management is one of the key issues. This paper proposes a hedonic pricing mechanism based on dynamic alliance to calculate the guiding prices for Grid resources. Hedonic Pricing Method is widely applied in price management in economic field. In our pricing model, it is applied to define the reasonable prices of Grid resources. The mechanism disaggregates the performance differences between providers into more basic units and measures them quantitatively. A dynamic alliance architecture is also designed to enable the individual resource provider to collaborate with each other and make alliances for a win-win goal. In a dynamic alliance, one chief is selected to perform the pricing task and offer different guiding prices to different providers according to the hedonic pricing mechanism. The guiding prices can avoid the blindness of quoting, speed up the process of price convergence. This architecture can extricate the providers from the tedious pricing work and reduce the one-sidedness and blindness of their own pricing caused by information asymmetry. Simulation results show that the mechanism satisfies the expectations.

[1]  Qian Pei-de.  Server Load Prediction Based on Time Series , 2006 .

[2]  Yang Jin,et al.  An autonomous pricing strategy toward market economy in computational grids , 2005, International Conference on Information Technology: Coding and Computing (ITCC'05) - Volume II.

[3]  Dongmo Zhang.  Negotiation mechanism for TAC SCM component market , 2005, AAMAS '05.

[4]  Michael Schwind,et al.  Dynamic Resource Prices in a Combinatorial Grid System , 2006, The 8th IEEE International Conference on E-Commerce Technology and The 3rd IEEE International Conference on Enterprise Computing, E-Commerce, and E-Services (CEC/EEE'06).

[5]  Peter A. Dinda,et al.  The statistical properties of host load , 1999, Sci. Program..

[6]  H. Raghav Rao,et al.  Hedonic price analysis of workstation attributes , 1993, CACM.

[7]  Sajal K. Das,et al.  A game theory based pricing strategy for job allocation in mobile grids , 2004, 18th International Parallel and Distributed Processing Symposium, 2004. Proceedings..

[8]  George D. Stamoulis,et al.  A new strategy for bidding in the network-wide progressive second price auction for bandwidth , 2005, CoNEXT '05.

[9]  Feng Zhao,et al.  A practical pricing model of inter-domain multicasting based on game theory , 2006, NetGames '06.

[10]  R. V. van Nieuwpoort,et al.  The Grid 2: Blueprint for a New Computing Infrastructure , 2003 .

[11]  David Abramson,et al.  The Grid Economy , 2005, Proceedings of the IEEE.

[12]  Christos Gkantsidis,et al.  Proceedings of the 2007 workshop on Peer-to-peer streaming and IP-TV , 2007, SIGCOMM 2007.

[13]  Paul-Amaury Matt,et al.  Infinitesimal nash transfers for resource allocation in strong social alliances , 2007, AAMAS '07.

[14]  R. Kelley Pace,et al.  Parametric, semiparametric, and nonparametric estimation of characteristic values within mass assessment and hedonic pricing models , 1995 .

[15]  Otis W. Gilley,et al.  Estimation employing a priori information within mass appraisal and hedonic pricing models , 1990 .

[16]  Nan Du,et al.  GOI-Based Information Service Architecture in Grid , 2006, 2006 IEEE Asia-Pacific Conference on Services Computing (APSCC'06).

[17]  P. Goffe.  Hedonic Pricing of Agriculture and Forestry Externalities , 1996 .

[18]  Bai Wang,et al.  A Dynamic Price Model with Demand Prediction and Task Classification in Grid , 2007, Sixth International Conference on Grid and Cooperative Computing (GCC 2007).

[19]  Elizabeth M. Daniel,et al.  Electronic marketplace-to-marketplace alliances: emerging trends and strategic rationales , 2003, ICEC '03.

[20]  Darshan Purandare,et al.  An alliance based peering scheme for peer-to-peer live media streaming , 2007, P2P-TV '07.