To Bid or Not to Bid in Streamlined EC2 Spot Markets

@article{Chhetri2018ToBO,
  title={To Bid or Not to Bid in Streamlined EC2 Spot Markets},
  author={Mohan Baruwal Chhetri and Markus Lumpe and Quoc Bao Vo and Ryszard Kowalczyk},
  journal={2018 IEEE International Conference on Services Computing (SCC)},
  year={2018},
  pages={129-136}
}
Previously, Amazon EC2 Spot prices were always driven by short-term trends in supply and demand, requiring consumers to have an in-depth understanding of Spot markets and the bidding process in order to make "intelligent" time-vs-money-vs-value trade-offs. However, with the newly announced streamlined access model for Spot instances, Amazon states that the Spot prices will adjust more gradually based on long-term trends instead of reacting to short-term fluctuations in demand and supply… CONTINUE READING

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Key Quantitative Results

  • Therefore, consumers are no longer required to understand Spot markets and bidding, and yet can save up to 90% off the On-Demand prices.

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References

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