TY - GEN
T1 - Using revenue management to determine pricing of reservations
AU - Sulistio, Anthony
AU - Kim, Kyong Hoon
AU - Buyya, Rajkumar
PY - 2007
Y1 - 2007
N2 - Grid economy provides a mechanism or incentive for resource owners to be part of the Grid, and encourages users to utilize resources optimally and effectively. Advance reservation technique allows users to request resources in the future. However, few research has been done on determining pricing of such reservations. In this paper, we present a novel approach of using Revenue Management (RM) to determine pricing of reservations in Grids in order to increase pro ts. Hence, the aim of RM is to periodically update the prices in response to market demands, by charging different fares to different customers for a same resource. We evaluate the effectiveness of RM and show that by segmenting customers, charging them with different pricing schemes and protecting resources for them who are willing to pay more, will result in an increase of total revenue for that resource. Moreover, using RM techniques ensure that resources are allocated to applications that are highly valued by the users.
AB - Grid economy provides a mechanism or incentive for resource owners to be part of the Grid, and encourages users to utilize resources optimally and effectively. Advance reservation technique allows users to request resources in the future. However, few research has been done on determining pricing of such reservations. In this paper, we present a novel approach of using Revenue Management (RM) to determine pricing of reservations in Grids in order to increase pro ts. Hence, the aim of RM is to periodically update the prices in response to market demands, by charging different fares to different customers for a same resource. We evaluate the effectiveness of RM and show that by segmenting customers, charging them with different pricing schemes and protecting resources for them who are willing to pay more, will result in an increase of total revenue for that resource. Moreover, using RM techniques ensure that resources are allocated to applications that are highly valued by the users.
UR - http://www.scopus.com/inward/record.url?scp=44949097214&partnerID=8YFLogxK
U2 - 10.1109/E-SCIENCE.2007.83
DO - 10.1109/E-SCIENCE.2007.83
M3 - Conference contribution
AN - SCOPUS:44949097214
SN - 0769530648
SN - 9780769530642
T3 - Proceedings - e-Science 2007, 3rd IEEE International Conference on e-Science and Grid Computing
SP - 396
EP - 404
BT - Proceedings - e-Science 2007, 3rd IEEE International Conference on e-Science and Grid Computing
T2 - E-Science 2007, 3rd IEEE International Conference on E-Science and Grid Computing
Y2 - 10 December 2007 through 13 December 2007
ER -