Strategy-proof Pricing Approach for Cloud Market

TL;DR

This paper introduces a strategy-proof cloud pricing model using VCG that ensures truthful cost reporting, economic stability, and competitive, accurate pricing for cloud services.

Contribution

It presents a novel strategy-proof pricing approach for cloud markets utilizing VCG and dynamic programming, enhancing pricing accuracy and stability.

Findings

Ensures truthful cost reporting from providers

Enables stable and competitive cloud pricing

Improves pricing accuracy through the proposed model

Abstract

In this paper, we design and develop a pricing model applicable to strategy proof pricing. To provide an economic stability towards its consumers. The economic model we use is Vickrey-Clarke-Groves (VCG). By this each service provider has to provide a true cost of its services in the cloud market. For the selection of suitable service for the consumer we adopt a dynamic programing based algorithm and VCG is used to calculate the payment. Strategy proof pricing offers a unique cloud pricing service that takes the complexity out of traditional pricing and enables cloud providers to price accurately, consistently and competitively