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What is Cloud Resources

Encyclopedia of Organizational Knowledge, Administration, and Technology
Virtual machines (VM) with specific computational and storage capacities provided to the cloud customers in the form of cloud instances. Cloud customers can rent those instances depending on their availability and applied pricing mechanism.
Published in Chapter:
Auction-Based Pricing in Cloud Environment
Branka Mikavica (Faculty of Transport and Traffic Engineering, University of Belgrade, Serbia) and Aleksandra Kostic-Ljubisavljevic (Faculty of Transport and Traffic Engineering, University of Belgrade, Serbia)
DOI: 10.4018/978-1-7998-3473-1.ch008
The rapid development of cloud computing requires improvement of pricing and allocation mechanisms of cloud resources. Dynamic pricing and allocation mechanisms are considered convenient, due to characteristics of cloud resources and the fact that demand for cloud resources is not uniform. The aims of such a mechanism are to optimize the utilization of cloud resources, to maximize cloud providers' revenues, and to minimize prices for cloud customers. Auction-based pricing and allocation mechanisms are often used since resources are allocated to the customers that value them the most, and prices are determined depending on the supply and demand conditions. Selection of an appropriate bidding strategy is a very important issue and requires the comprehensive approach. This chapter analyses the benefits of auction-based pricing and allocation mechanism in the cloud environment. In addition, the effects of different bidding strategies application are addressed.
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More Results
Cloud-Based Image Fusion Using Guided Filtering
Is a model for enabling ubiquitous,convenient, on-demand network access to a shared pool of configurable computing resources(eg, networks, servers, storage, applications, and services).
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Security Issues of Cloud Migration and Optical Networking in Future Internet
Physical or virtual resources of the cloud provider which are accessible to cloud customers.
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