SipaaS: Spot instance pricing as a Service framework and its implementation in OpenStack

Abstract

Designing dynamic pricing mechanisms that efficiently price resources in line with a provider's profit maximization goal is a key challenge in cloud computing environments. Despite the large volume of research published on this topic, there is no publicly available software system implementing dynamic pricing for Infrastructure as a Service cloud spot markets. This paper presents the implementation of a framework called Spot instance pricing as a Service (SipaaS) that supports an auction mechanism to price and allocate virtual machine instances. SipaaS is an open-source project offering a set of web services to price and sell virtual machine instances in a spot market resembling the Amazon E..