CloudAuc: An Innovative Approach Utilizing Paul Milgrom's SMRA Auction Procedure to Distribute Cloud Resources Among Various Clients

Cloud computing is a revolutionary computing paradigm that has transmuted the way data is handled/processed and storage is managed by bringing computational activities closer to data in centralized data repositories in remote data centers. Besides these advantages, efficiently controlling various resources in cloud architectures generates numerous issues because of their diverse and dynamic nature. This research article focuses on Nobel laureate Paul Milgrom's auction procedure, recognizing it as a feasible resolution to these issues. Paul Milgrom in his auction procedure proposes an efficient method-ology for allocating resources, encouraging competition and clarity. Especially, the SMRA (Simultaneously multiple-round auction) facilitates efficient resource allotment by permitting clients to perform combination-based bidding over numerous iterations. Via iterative alterations steered by price updations, clients can revise their proposed bids to correctly coincide with their exact requirements. This research article proposes a novel CloudAuc procedure, founded upon Paul Milgrom's bidding methodology, as a creative strategy for enhancing resource allotment in cloud architectures. By promoting truthful bidding and responsively enhancing resource allotment, CloudAuc strives to enhance precision, clarity, and resilience in cloud architectures, thereby promoting resource allotment procedures in centralized frameworks.