research-article

Web service derivatives

Authors:

Benjamin BlauAuthors Info & Claims

WWW '09: Proceedings of the 18th international conference on World wide web

Pages 271 - 280

https://doi.org/10.1145/1526709.1526746

Published: 20 April 2009 Publication History

Abstract

Web service development and usage has shifted from simple information processing services to high-value business services that are crucial to productivity and success. In order to deal with an increasing risk of unavailability or failure of mission-critical Web services we argue the need for advanced reservation of services in the form of derivatives.

The contribution of this paper is twofold: First we provide an abstract model of a market design that enables the trade of derivatives for mission-critical Web services. Our model satisfies requirements that result from service characteristics such as intangibility and the impossibility to inventor services in order to meet fluctuating demand. It comprehends principles from models of incomplete markets such as the absence of a tradeable underlying and consistent arbitrage-free derivative pricing.

Furthermore we provide an architecture for a Web service market that implements our model and describes the strategy space and interaction of market participants in the trading process of service derivatives. We compare the underlying pricing processes to existing derivative models in energy exchanges, discuss eventual shortcomings, and apply Wavelets to analyze actual data and extract long- and short-term trends.

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Cited By

Chen BWang JCox IKankanhalli M(2015)Multi-Keyword Multi-Click Advertisement Option Contracts for Sponsored SearchACM Transactions on Intelligent Systems and Technology10.1145/27430277:1(1-29)Online publication date: 1-Oct-2015
https://dl.acm.org/doi/10.1145/2743027
Haak SBlau B(2012)Efficient QoS Aggregation in Service Value NetworksProceedings of the 2012 45th Hawaii International Conference on System Sciences10.1109/HICSS.2012.237(1512-1521)Online publication date: 4-Jan-2012
https://dl.acm.org/doi/10.1109/HICSS.2012.237
Weinhardt CBlau BConte TFilipova-Neumann LMeinl TMichalk WWeinhardt CBlau BConte TFilipova-Neumann LMeinl TMichalk W(2011)Web Services Advanced Reservation ContractsBusiness Aspects of Web Services10.1007/978-3-642-22447-8_8(171-190)Online publication date: 12-Sep-2011
https://doi.org/10.1007/978-3-642-22447-8_8
Show More Cited By

Index Terms

Web service derivatives
1. Information systems
  1. World Wide Web
    1. Web applications
    2. Web services
2. Social and professional topics
  1. Professional topics
    1. Computing industry

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Published In

cover image ACM Conferences

WWW '09: Proceedings of the 18th international conference on World wide web

April 2009

1280 pages

ISBN:9781605584874

DOI:10.1145/1526709

General Chairs:
Juan Quemada
DIT-UPM
,
Gonzalo León
DIT-UPM
,
Program Chairs:
Yoelle Maarek
Google Inc., Israel
,
Wolfgang Nejdl
L3S and Hannover University

Copyright © 2009 IW3C2 org.

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Association for Computing Machinery

New York, NY, United States

Publication History

Published: 20 April 2009

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WWW '09

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WWW '09: The 18th International World Wide Web Conference

April 20 - 24, 2009

Madrid, Spain

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Overall Acceptance Rate 1,899 of 8,196 submissions, 23%

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Cited By

Chen BWang JCox IKankanhalli M(2015)Multi-Keyword Multi-Click Advertisement Option Contracts for Sponsored SearchACM Transactions on Intelligent Systems and Technology10.1145/27430277:1(1-29)Online publication date: 1-Oct-2015
https://dl.acm.org/doi/10.1145/2743027
Haak SBlau B(2012)Efficient QoS Aggregation in Service Value NetworksProceedings of the 2012 45th Hawaii International Conference on System Sciences10.1109/HICSS.2012.237(1512-1521)Online publication date: 4-Jan-2012
https://dl.acm.org/doi/10.1109/HICSS.2012.237
Weinhardt CBlau BConte TFilipova-Neumann LMeinl TMichalk WWeinhardt CBlau BConte TFilipova-Neumann LMeinl TMichalk W(2011)Web Services Advanced Reservation ContractsBusiness Aspects of Web Services10.1007/978-3-642-22447-8_8(171-190)Online publication date: 12-Sep-2011
https://doi.org/10.1007/978-3-642-22447-8_8
Weinhardt CBlau BConte TFilipova-Neumann LMeinl TMichalk WWeinhardt CBlau BConte TFilipova-Neumann LMeinl TMichalk W(2011)IntroductionBusiness Aspects of Web Services10.1007/978-3-642-22447-8_1(1-9)Online publication date: 12-Sep-2011
https://doi.org/10.1007/978-3-642-22447-8_1
Meinl TAnandasivam ATatsubori M(2010)Enabling Cloud Service Reservation with Derivatives and Yield ManagementProceedings of the 12th IEEE International Conference on Commerce and Enterprise Computing10.1109/CEC.2010.10(150-155)Online publication date: 10-Nov-2010
https://dl.acm.org/doi/10.1109/CEC.2010.10
Kraemer JConte TBlau Bvan Dinther CWeinhardt C(undefined)Service Value Networks: Unleashing the Combinatorial Power of Service MashupsSSRN Electronic Journal10.2139/ssrn.1582902
https://doi.org/10.2139/ssrn.1582902

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