Abstract
Over the next few years, a new model of buying and selling cloud computing resources will evolve. Instead of providers exclusively selling server equivalent virtual machines for relatively long periods of time (as done in today's IaaS clouds), providers will increasingly sell individual resources (such as CPU, memory, and I/O resources) for a few seconds at a time. We term this nascent economic model of cloud computing the Resource-as-a-Service (RaaS) cloud, and we argue that its rise is the likely culmination of recent trends in the construction of IaaS clouds and of the economic forces operating on both providers and clients. The single most important proposition in economic theory, first stated by Adam Smith, is that competitive markets do a good job allocating resources. (Stephen LeRoy).
Original language | English |
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State | Published - 2012 |
Externally published | Yes |
Event | 4th USENIX Workshop on Hot Topics in Cloud Computing, HotCloud 2012 - Boston, United States Duration: 12 Jun 2012 → 13 Jun 2012 |
Conference
Conference | 4th USENIX Workshop on Hot Topics in Cloud Computing, HotCloud 2012 |
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Country/Territory | United States |
City | Boston |
Period | 12/06/12 → 13/06/12 |
Bibliographical note
Publisher Copyright:© USENIX Workshop on Hot Topics in Cloud Computing, HotCloud 2012.All right reserved.
ASJC Scopus subject areas
- Computer Science Applications
- Computer Networks and Communications
- Computer Science (miscellaneous)