Paper Info
Title
Towards Optimal Bidding Strategy for Amazon EC2 Cloud Spot Instance
Abstract
With the recent introduction of Spot Instances in the Amazon Elastic Compute Cloud (EC2), users can bid for resources and thus control the balance of reliability versus monetary costs. Mechanisms and tools that deal with the cost-reliability trade-offs under this schema are of great value for users seeking to lessen their costs while maintaining high reliability. In this paper, we propose a set of bidding strategies to minimize the cost and volatility of resource provisioning. Essentially, to derive an optimal bidding strategy, we formulate this problem as a Constrained Markov Decision Process (CMDP). Based on this model, we are able to obtain an optimal randomized bidding strategy through linear programming. Using real Instance Price traces and workload models, we compare several adaptive check-pointing schemes in terms of monetary costs and job completion time. We evaluate our model and demonstrate how users should bid optimally on Spot Instances to reach different objectives with desired levels of confidence.
Year
DOI
Venue
2012
10.1109/CLOUD.2012.134
IEEE CLOUD
Keywords
Field
DocType
monetary costs,amazon ec2 cloud spot,towards optimal bidding strategy,spot instances,workload model,ec2,checkpointing,software reliability,amazon ec2 cloud spot instance,optimal randomized bidding strategy,software maintenance,linear programming,optimal bidding strategy,adaptive check-pointing schemes,monetary cost,amazon elastic compute cloud,job completion time,workload models,high reliability,constrained markov decision process,bidding strategy,reliability balance control,cost-reliability trade-offs,cloud computing,cmdp,instance price traces,cost minimization,markov processes,cost reduction,history,pricing,computational modeling,reliability
Markov process,Computer science,Markov decision process,Provisioning,Real-time computing,Real-time bidding,Linear programming,Bidding,Cost reduction,Cloud computing
Conference
ISSN
ISBN
Citations 
2159-6182
978-1-4673-2892-0
40
PageRank 
References 
Authors
1.21
8
3
Name
Order
Citations
PageRank
Tang Shaojie12224157.73
Jing Yuan223711.92
Xiang-Yang Li36855435.18