Research on economic models with contract management mechanism in grid

Abstract

The Grid Architecture for Computational Economy (GRACE) is a model, which uses for reference the competitive market mechanism in human society to manage the resource. However, in the model, once the trade is set up, there is no way to monitor whether the seller (i.e., resource owner) has provided the services or the buyer (i.e., user) has accepted the services according to their commitment. Thus a new Grid Market Architecture based on Contract Management(CM) with According to Lower is proposed in this paper. The whole process of market transactions is constrained by CM. The components and the workflow of CM are discussed in detail in this paper. The simulation experiments show the significance of our proposed new architecture.