G-commerce: market formulations controlling resource allocation on the computational grid

In this paper we investigate G-commerce-computational economies for controlling resource allocation in Computational Grid settings. We define hypothetical resource consumers (representing users and Grid-aware applications) and resource producers (representing resource owners who “sell” their resources to the Grid). We then measure the efficiency of resource allocation under two different market conditions: commodities markets and auctions. We compare both market strategies in terms of price stability, market equilibrium, consumer efficiency, and producer efficiency. Our results indicate that commodities markets are a better choice for controlling Grid resources than previously defined auction strategies