A competition-based pricing strategy in Cloud markets using regret minimisation techniques
by Safiye Ghasemi; Mohammad Reza Meybodi; Mehdi Dehghan Takht Rooladi; Amir Masoud Rahmani
International Journal of Grid and Utility Computing (IJGUC), Vol. 12, No. 5/6, 2021

Abstract: Cloud computing as a fairly new commercial paradigm, widely investigated by different researchers, and already has a great range of challenges. Pricing is a major problem in the Cloud computing marketplace, as providers are competing to attract more customers without knowing the pricing policies of each other. To overcome this lack of knowledge, we model their competition by an incomplete-information game. Considering the issue, this work proposes a pricing policy related to the regret minimisation algorithm and applies it to the considered incomplete-information game. Based on the competition-based marketplace of the Cloud, providers update the distribution of their strategies using the experienced regret. The idea of iteratively applying the algorithm for updating probabilities of strategies causes the regret to be minimised faster. The experimental results show much more increase in profits of the providers in comparison with other pricing policies. Besides, the efficiency of a variety of regret minimisation techniques in a simulated marketplace of Cloud are discussed which have not been observed in the studied literature. Moreover, return on investment of providers in considered organisations is studied and promising results appeared.

Online publication date: Fri, 07-Jan-2022

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Grid and Utility Computing (IJGUC):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com