A survey of economic models in grid computing

Grid computing offers the network of large scale computing resources. Economic models are effective in collaborating large scale heterogeneous grid resources that are typically owned by different organizations. Not all the models provide same benefits for users in utilizing the resources. Similarly, the profit earned by resource providers also differs for different economic models. We survey the economic models used in grid computing since its inception until 2010. We discuss their advantages and disadvantages and analyze their suitability for usage in a dynamic grid environment. To the best of our knowledge, no such survey has been conducted in the literature up to now.

► Economic approaches are efficient in Grid computing.
► Different economic models are proposed for Grid computing.
► Address strengths and weaknesses of different economic models.
► Different models are suitable for different scenarios.
► Proposal of using different models for different scenarios.