Grid Resource Allocation and Control Using Computational Economies

In this chapter, we describe the use of economic principles as the basis for Grid resource allocation policies and mechanisms. A computational economy in which users "buy" resources from their owners is an attrac- tive method of controlling Grid resource allocation for several reasons. Economies are intuitively easy to understand, they fit the model of flexi- ble resource usage under local control (which is fundamental to Grid com- puting), and they can be analyzed through a considerable body of extant theory. We discuss many of the fundamental characteristics of compu- tational economies, particularly as they pertain to Grid computing. We also present G-commerce — a framework that we have used to investigate Grid resource economies — as an example of the type of results that are possible. Finally, we discuss several of the issues associated with empirical investigation of Grid economies as a motivation for future work.