Optimal Dynamic Pricing Policies for an M/M/s Queue

DOI10.1287/opre.22.3.545zbMath0293.60091MaRDI QIDQ4045446

David W. Low

Publication date: 1974

Published in: Operations Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/opre.22.3.545

Mathematics Subject Classification ID

60K25: Queueing theory (aspects of probability theory)

90C40: Markov and semi-Markov decision processes

60K30: Applications of queueing theory (congestion, allocation, storage, traffic, etc.)

Related Items

The Value of Dynamic Pricing in Large Queueing Systems, Architecture and robustness tradeoffs in speed-scaled queues with application to energy management, A note on optimal pricing for finite capacity queueing systems with multiple customer classes, Congestion-dependent pricing in a stochastic service system, Optimal pricing for a \(\mathrm{GI}/\mathrm{M}/k/N\) queue with several customer types and holding costs, Dynamic pricing and scheduling in a multi-class single-server queueing system, Lock and no-lock mortgage plans: Is it only a matter of risk shifting?, Customer selection problem with profit from a sideline, Revenue management for a make-to-order company with limited inventory capacity, Optimal admission and pricing control problem with deterministic service times and sideline profit, On the trade-off between queue congestion and server's reward in an M/M/1 queue, Lead-time quotations in unobservable make-to-order systems with strategic customers: risk aversion, load control and profit maximization, Computing the conditional entry-state distribution in Erlang loss systems, Optimal pricing for tandem queues with finite buffers, Sensitivity of optimal prices to system parameters in a steady-state service facility, On the optimality of a maintenance queueing system, Fair and profitable: how pricing and lead-time quotation policies can help, An Overview for Markov Decision Processes in Queues and Networks, CUSTOMER SELECTION PROBLEM WITH SEARCH COST, DUE DATE, SIDELINE PROFIT, AND NO WAITING ROOM, Optimal admission and pricing control problems in service industries with multiple servers and sideline profit, Discrete time controllable processes with bounded drift and their application in queueing systems