Resource Pricing and Demand Allocation for Revenue Maximization in IaaS Clouds: A Market-Oriented Approach | IEEE Journals & Magazine | IEEE Xplore

Resource Pricing and Demand Allocation for Revenue Maximization in IaaS Clouds: A Market-Oriented Approach


Abstract:

With more users outsourcing their applications to the cloud, resource pricing becomes an important issue for IaaS cloud management. Jointly considering her own bidding bu...Show More

Abstract:

With more users outsourcing their applications to the cloud, resource pricing becomes an important issue for IaaS cloud management. Jointly considering her own bidding budget and the price of cloud resources, each user is self-motivated to purchase cloud resources according to her resource demand which maximizes her own utility. Meanwhile, the cloud service provider (CSP) regulates the price of cloud resources with a certain profitability objective achieved. With an elaborate resource pricing strategy, the goals from users and the CSP are balanced and respectively satisfied to some extent. This article provides an insight into the market-oriented cloud pricing strategy. In specific, we propose an auction market in the IaaS cloud, where multiple users with heterogeneous bidding budgets and QoS requirements subscribe cloud resources according to their resource demands. The resource pricing and demand allocation scheme targeting revenue maximization also satisfies essential properties including budget feasibility, incentive compatibility and envy-freeness. To attack the NP-hardness and non-convexity of revenue maximization problem, we design a price-incentive resource auction mechanism namely RARM, which preserves an ( 1+α) approximation ratio on revenue maximization. Finally, we evaluate our RARM mechanism based on the real-world dataset to certify the efficacy of our proposed approach.
Published in: IEEE Transactions on Network and Service Management ( Volume: 18, Issue: 3, September 2021)
Page(s): 3460 - 3475
Date of Publication: 02 June 2021

ISSN Information:

Funding Agency:

Author image of Songyuan Li
State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, Beijing, China
Songyuan Li (Student Member, IEEE) received the B.Eng. and M.Eng. degrees in computer science and technology from the Beijing University of Posts and Telecommunications, China, in 2018 and 2021, respectively. He has published articles in international journals and conference proceedings, including the IEEE Transactions on Network and Service Management, the Peer-to-Peer Networking and Applications, the International Journ...Show More
Songyuan Li (Student Member, IEEE) received the B.Eng. and M.Eng. degrees in computer science and technology from the Beijing University of Posts and Telecommunications, China, in 2018 and 2021, respectively. He has published articles in international journals and conference proceedings, including the IEEE Transactions on Network and Service Management, the Peer-to-Peer Networking and Applications, the International Journ...View more
Author image of Jiwei Huang
Beijing Key Laboratory of Petroleum Data Mining, China University of Petroleum - Beijing, Beijing, China
Jiwei Huang (Member, IEEE) received the B.Eng. and Ph.D. degrees in computer science and technology from Tsinghua University, in 2009 and 2014, respectively. He was a Visiting Scholar with the Georgia Institute of Technology. He is currently a Professor and the Dean with the Department of Computer Science and Technology, China University of Petroleum, Beijing, China, and the Director of the Beijing Key Laboratory of Petro...Show More
Jiwei Huang (Member, IEEE) received the B.Eng. and Ph.D. degrees in computer science and technology from Tsinghua University, in 2009 and 2014, respectively. He was a Visiting Scholar with the Georgia Institute of Technology. He is currently a Professor and the Dean with the Department of Computer Science and Technology, China University of Petroleum, Beijing, China, and the Director of the Beijing Key Laboratory of Petro...View more
Author image of Bo Cheng
State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, Beijing, China
Bo Cheng (Member, IEEE) received the Ph.D. degree in computer science and engineering from the University of Electronic Science and Technology of China in 2006. He is currently a Professor with the State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, China. He has published more than 60 articles in international journals and conference proceedings, including the ...Show More
Bo Cheng (Member, IEEE) received the Ph.D. degree in computer science and engineering from the University of Electronic Science and Technology of China in 2006. He is currently a Professor with the State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, China. He has published more than 60 articles in international journals and conference proceedings, including the ...View more

Author image of Songyuan Li
State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, Beijing, China
Songyuan Li (Student Member, IEEE) received the B.Eng. and M.Eng. degrees in computer science and technology from the Beijing University of Posts and Telecommunications, China, in 2018 and 2021, respectively. He has published articles in international journals and conference proceedings, including the IEEE Transactions on Network and Service Management, the Peer-to-Peer Networking and Applications, the International Journal of Web and Grid Services, IEEE ICWS, IEEE SCC, and IEEE ISPA. His current research interests include cloud computing, edge computing, services computing, performance evaluation, and optimization.
Songyuan Li (Student Member, IEEE) received the B.Eng. and M.Eng. degrees in computer science and technology from the Beijing University of Posts and Telecommunications, China, in 2018 and 2021, respectively. He has published articles in international journals and conference proceedings, including the IEEE Transactions on Network and Service Management, the Peer-to-Peer Networking and Applications, the International Journal of Web and Grid Services, IEEE ICWS, IEEE SCC, and IEEE ISPA. His current research interests include cloud computing, edge computing, services computing, performance evaluation, and optimization.View more
Author image of Jiwei Huang
Beijing Key Laboratory of Petroleum Data Mining, China University of Petroleum - Beijing, Beijing, China
Jiwei Huang (Member, IEEE) received the B.Eng. and Ph.D. degrees in computer science and technology from Tsinghua University, in 2009 and 2014, respectively. He was a Visiting Scholar with the Georgia Institute of Technology. He is currently a Professor and the Dean with the Department of Computer Science and Technology, China University of Petroleum, Beijing, China, and the Director of the Beijing Key Laboratory of Petroleum Data Mining. He has published one book and more than 50 articles in international journals and conference proceedings, including the IEEE Transactions on Services Computing, the IEEE Transactions on Cloud Computing, ACM SIGMETRICS, IEEE ICWS, and IEEE SCC. His research interests include services computing, cloud computing, and performance evaluation. He is a Member of ACM.
Jiwei Huang (Member, IEEE) received the B.Eng. and Ph.D. degrees in computer science and technology from Tsinghua University, in 2009 and 2014, respectively. He was a Visiting Scholar with the Georgia Institute of Technology. He is currently a Professor and the Dean with the Department of Computer Science and Technology, China University of Petroleum, Beijing, China, and the Director of the Beijing Key Laboratory of Petroleum Data Mining. He has published one book and more than 50 articles in international journals and conference proceedings, including the IEEE Transactions on Services Computing, the IEEE Transactions on Cloud Computing, ACM SIGMETRICS, IEEE ICWS, and IEEE SCC. His research interests include services computing, cloud computing, and performance evaluation. He is a Member of ACM.View more
Author image of Bo Cheng
State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, Beijing, China
Bo Cheng (Member, IEEE) received the Ph.D. degree in computer science and engineering from the University of Electronic Science and Technology of China in 2006. He is currently a Professor with the State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, China. He has published more than 60 articles in international journals and conference proceedings, including the IEEE/ACM Transactions on Networking, the IEEE Transactions on Parallel and Distributed Systems, IEEE ICDCS, and IEEE ICWS. His current research interests include network services and intelligence, Internet of Things technology, communication software, and distributed computing. He serves on the editorial board of the IEEE Transactions on Network and Service Management. He is a member of ACM.
Bo Cheng (Member, IEEE) received the Ph.D. degree in computer science and engineering from the University of Electronic Science and Technology of China in 2006. He is currently a Professor with the State Key Laboratory of Networking and Switching Technology, Beijing University of Posts and Telecommunications, China. He has published more than 60 articles in international journals and conference proceedings, including the IEEE/ACM Transactions on Networking, the IEEE Transactions on Parallel and Distributed Systems, IEEE ICDCS, and IEEE ICWS. His current research interests include network services and intelligence, Internet of Things technology, communication software, and distributed computing. He serves on the editorial board of the IEEE Transactions on Network and Service Management. He is a member of ACM.View more

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