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This paper presents the economic impacts of spot instance service on thecloud service providers (CSPs) and the customers when the CSPs offer it alongwith the on-demand instance service to the customers. We model the interactionbetween CSPs and customers as a non-cooperative two-stage dynamic game. Ourequilibrium analysis reveals (i) the techno-economic interrelationship betweenthe customers' heterogeneity, resource availability, and CSPs' pricing policy,and (ii) the impacts of the customers' service selection (spot vs. on-demand)and the CSPs' pricing decision on the CSPs' market share and revenue, as wellas the customers' utility. The key technical challenges lie in, first, how wecapture the strategic interactions between CSPs and customers, and second, howwe consider the various practical aspects of cloud services, such asheterogeneity of customers' willingness to pay for the quality of service (QoS)and the fluctuating resource availability. The main contribution of this paperis to provide CSPs and customers with a better understanding of the economicimpact caused by a certain price policy for the spot service when theequilibrium price, which from our two-stage dynamic game analysis, is able toset as the baseline price for their spot service.

Economics of Spot Instance Service: A Two-stage Dynamic Game Apporach