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In this paper, we apply the theory of financial option to design a model to price grid resources. We use GridSim, a grid simulation tool to simulate resource usage in a Grid. First, we integrate our pricing model to GridSim to price resources for the usage pattern generated randomly for a grid. Then, we price resources on six real grids for the resource usage trace data on these grids that we collected over a period of time.We introduce a new function called price variant function (pvf) in our model to adjust the charges for resources at various times so that the grid remains busy. We show that the pvf helps the resource provider in (1) keeping the grid busy and (2) recovering the investment on the infrastructure in a pre-determined period of time.