Market-oriented reverse auction is an efficient and cost-effective method for resource allocation in cloud workflow systems since\nit can dynamically allocate resources depending on the supply-demand relationship of the cloud market. However, during the\nauction the price of cloud resource is usually fixed, and the current resource allocation mechanisms cannot adapt to the changeable\nmarket properly which results in the low efficiency of resource utilization. To address such a problem, a dynamic pricing reverse\nauction-based resource allocation mechanism is proposed. During the auction, resource providers can change prices according to\nthe trading situation so that our novel mechanism can increase the chances of making a deal and improve efficiency of resource\nutilization. In addition, resource providers can improve their competitiveness in the market by lowering prices, and thus users\ncan obtain cheaper resources in shorter time which would decrease monetary cost and completion time for workflow execution.\nExperiments with different situations and problem sizes are conducted for dynamic pricing-based allocation mechanism (DPAM)\non resource utilization and the measurement of TimeâË?â??Cost (TC).The results show that our DPAM can out per form its representative\nin resource utilization, monetary cost, and completion time and also obtain the optimal price reduction rates.
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