1. A computer-implemented method for selecting replication nodes in a network of nodes, the method comprising the steps of: identifying a source node; determining at least two eligible nodes in the network of nodes; determining, using a processor, a communication cost for each of the eligible nodes, the communication cost being based on at least one communication parameter between the source node and the eligible node such that the communication cost indicates a cost of communicating data between the source node and the eligible node for storing the data thereon; determining a probability of a concurrent failure of the source node and each of the eligible nodes such that the concurrent failure affects the source node and that eligible node at substantially the same time; and selecting at least one of the eligible nodes for replication of data located on the source node based on determined communication costs and probabilities of concurrent failure, wherein each of the nodes in the network of nodes is an information processing system including at least one processor and at least one data storage area.