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Engineering Grid Markets

Authors: Dirk Neumann

Published in: Dagstuhl Seminar Proceedings, Volume 6461, Negotiation and Market Engineering (2007)

Abstract

Grids denote a promising concept to pool computer resources for joint computations. Facing increasingly more complex and demanding resources, Grids are deemed the solution to those problems by a more efficient and flexible usage of already existing resources. From a technical perspective Grid middleware have made significant progress. While in former implementations it was only possible to share idle resources (e.g. using Condor), new Grid middleware allow advance reservation of resources that are once committed not usable locally for the committed time (e.g. GRAM in Globus Toolkit 4.0). Advance reservation thus allows the sharing of not only idle resources but of all designated resources. The contribution of this paper is threefold. Firstly, this paper derives a requirement list stemming from Grid applications that need to be fulfilled by the market-based Grid. Secondly, the paper compares related work with the above requirements. Thirdly, and most importantly, this paper provides a fully-fledged market mechanism that is tailored to the use in service-oriented Grids.

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Dirk Neumann. Engineering Grid Markets. In Negotiation and Market Engineering. Dagstuhl Seminar Proceedings, Volume 6461, pp. 1-13, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2007)

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@InProceedings{neumann:DagSemProc.06461.9,
  author =	{Neumann, Dirk},
  title =	{{Engineering Grid Markets}},
  booktitle =	{Negotiation and Market Engineering},
  pages =	{1--13},
  series =	{Dagstuhl Seminar Proceedings (DagSemProc)},
  ISSN =	{1862-4405},
  year =	{2007},
  volume =	{6461},
  editor =	{Nick Jennings and Gregory Kersten and Axel Ockenfels and Christof Weinhardt},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/DagSemProc.06461.9},
  URN =		{urn:nbn:de:0030-drops-10042},
  doi =		{10.4230/DagSemProc.06461.9},
  annote =	{Keywords: Market Engineering, Grid Computing, Combinatorial Exchange}
}

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DOI: 10.4230/DagSemProc.06461.16

On Comparison of Mechanisms of Economic and Social Exchanges: The Times Model

Authors: Gregory Kersten, Eva Chen, Dirk Neumann, Rustam Vahidov, and Christof Weinhardt

Published in: Dagstuhl Seminar Proceedings, Volume 6461, Negotiation and Market Engineering (2007)

Abstract

An e-market system is a concrete implementation of a market institution; it embeds one or more exchange mechanisms. The mechanisms are – from the economic point of view – disembodied objects (models and procedures) which control access to and regulate execution of transactions. E-market systems are also information systems which are information and communication technologies artifacts. They interact with their users; have different features and tools for searching, processing and displaying information. This work puts forward an argument that the study of e-markets must incorporate both the behavioural economic as well as the information systems perspectives. To this end the paper proposes a conceptual framework that integrates the two. This framework is used to formulate a model, which incorporates the essential features of exchange mechanisms, as well as their implementations as IS artefacts. The focus of attention is on two classes of mechanisms, namely auctions and negotiations. They both may serve the same purpose and their various types have been embedded in many e-market systems.

Cite as

Gregory Kersten, Eva Chen, Dirk Neumann, Rustam Vahidov, and Christof Weinhardt. On Comparison of Mechanisms of Economic and Social Exchanges: The Times Model. In Negotiation and Market Engineering. Dagstuhl Seminar Proceedings, Volume 6461, pp. 1-29, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2007)

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@InProceedings{kersten_et_al:DagSemProc.06461.16,
  author =	{Kersten, Gregory and Chen, Eva and Neumann, Dirk and Vahidov, Rustam and Weinhardt, Christof},
  title =	{{On Comparison of Mechanisms of Economic and Social Exchanges: The Times Model}},
  booktitle =	{Negotiation and Market Engineering},
  pages =	{1--29},
  series =	{Dagstuhl Seminar Proceedings (DagSemProc)},
  ISSN =	{1862-4405},
  year =	{2007},
  volume =	{6461},
  editor =	{Nick Jennings and Gregory Kersten and Axel Ockenfels and Christof Weinhardt},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/DagSemProc.06461.16},
  URN =		{urn:nbn:de:0030-drops-10008},
  doi =		{10.4230/DagSemProc.06461.16},
  annote =	{Keywords: Electronic markets, information systems, exchange mechanisms, auctions, negotiations, system assessment}
}

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Documents authored by Neumann, Dirk

Engineering Grid Markets

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On Comparison of Mechanisms of Economic and Social Exchanges: The Times Model

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