System and method for allocating computing resources of a distributed computing system

A system, comprising:

• a distributed computing system comprising a plurality of computing resources, wherein said plurality of computing resources comprises:
• a first type of processing device having a first processing capability;
• and
• a second type of processing device having a second processing capability, and wherein said first and second processing capabilities are different;
• and
• a computing device configured to:
• receive one or more reservations for use of at least a first subset of said plurality of computing resources, wherein each of said one or more reservations specifies a period of time for use of at least one computing resource and has a corresponding first monetary cost to a user of said computing resources specified in said reservation and each of said one or more reservations specifies an amount for use of said first and second types of processing device in a normalized unit of processing capability;
• allocate said first subset of said computing resources for use in accordance with said one or more reservations;
• charge said user said first monetary cost for use of said computing resources;
• receive one or more requests for use of at least a second subset of said plurality of computing resources of said distributed computing system, wherein each of said one or more requests specifies a period of time for use of at least one computing resource, comprises an expression of said first and second types of processing device in a normalized unit of processing capability, and has a corresponding second monetary cost to a user of said computing resource specified in said request;
• determine whether a sufficient amount of one or more unallocated computing resources are available to fulfill all of said one or more requests, wherein said one or more unallocated computing resources comprises said computing resources of said distributed computing system that are not allocated in accordance with said one or more reservations;
• responsive to said sufficient amount of said unallocated computing resources being available, temporarily allocate said unallocated computing resources in accordance with said one or more requests;
• and
• responsive to said sufficient amount of said unallocated computing resources not being available, temporarily allocate said unallocated computing resources in accordance with an allocation criteria, wherein said allocation criteria comprises fulfilling said requests beginning with said request comprising a highest bid indication and continuing in descending order of requests comprising said bid indications of lesser values until all of said unallocated resources have been allocated.