Autonomous adaptive agents for market-based resource allocation of cloud computing

The application of market mechanisms for the resource allocation of cloud computing services is a demanding task, which requires bridging economic and associated software agent technical challenges. Dynamic changes in the availability of resources over time makes the treatment more complicated. Here we employ an allocation mechanism and pricing mechanism as a market-based model to allocate resources in a cloud computing environment. Buyer and service provider agents determine their bid and ask prices using k-pricing which sets the transaction price individually for each matched buyer-service provider pair. These mechanisms are adaptively to meet the customers/ service providers requirement and constraints set by bundled services.