An index policy for dynamic pricing in cloud computing under price commitments

Volume 44 / 2017

V. S. Borkar, K. Ravikumar, Krishnakant Saboo Applicationes Mathematicae 44 (2017), 215-245 MSC: Primary 90B36; Secondary 68M20, 93E20, 60J20. DOI: 10.4064/am2313-6-2017 Published online: 25 August 2017

Abstract

A dynamic pricing based resource allocation problem for cloud computing is cast as a Markov decision process with average reward and hard per time combinatorial constraints. Following Whittle, its relaxation as a constrained average reward Markov decision process is analyzed and its Whittle indexability is established. An iterative scheme to compute the Whittle indices is also proposed.

Authors

  • V. S. BorkarDepartment of Electrical Engineering
    Indian Institute of Technology Bombay
    Powai, Mumbai 400076, India
    e-mail
  • K. RavikumarTCS Innovation Labs
    Cincinnati, OH 45150, U.S.A.
    e-mail
  • Krishnakant SabooDepartment of Electrical Engineering
    Indian Institute of Technology Bombay
    Powai, Mumbai 400076, India
    and
    Department of Electrical and Computer Engineering and
    the Coordinated Sciences Laboratory
    University of Illinois at Urbana-Champaign
    Urbana, IL 61801, U.S.A.
    e-mail

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