Carlee Joe-Wong

How to Bid the Cloud

By: 
Liang Zheng, Carlee Joe-Wong, Chee Wei Tan, Mung Chiang, Xinyu Wang
Appears in: 
CCR August 2015

Amazon's Elastic Compute Cloud (EC2) uses auction based spot pricing to sell spare capacity, allowing users to bid for cloud resources at a highly reduced rate. Amazon sets the spot price dynamically and accepts user bids above this price. Jobs with lower bids (including those already running) are interrupted and must wait for a lower spot price before resuming. Spot pricing thus raises two basic questions: how might the provider set the price, and what prices should users bid?

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