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On Systemic Risk in the Cloud Computing Model

Published

Author(s)

Vladimir V. Marbukh

Abstract

The major benefits of the emerging cloud computing infrastructure include elimination of the fixed cost and reduction in the marginal cost for the users due to the economy of scale and dynamic resource sharing. This paper argues that these unquestionable economic benefits of dynamic resource sharing are inherently associated with systemic risks and drawbacks. This possibility necessitates shift in cloud architecture design and operation paradigm from maximizing the economic benefits to managing and optimization of the inherent systemic risk/benefit tradeoffs. This paper is a first step towards exposure and quantification of inherent tradeoffs involving system economic efficiency and systemic risk of cascading overload in the cloud model of shared resources.
Proceedings Title
26th International Teletraffic Congress (ITC 26)
Conference Dates
September 9-11, 2014
Conference Location
Karlskrona

Keywords

cloud computing model, dynamic resource sharing, economic efficiency, systemic risk, tradeoffs

Citation

Marbukh, V. (2014), On Systemic Risk in the Cloud Computing Model, 26th International Teletraffic Congress (ITC 26), Karlskrona, -1, [online], https://doi.org/10.1109/ITC.2014.6932938 (Accessed May 19, 2024)

Issues

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Created October 23, 2014, Updated May 15, 2020