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

DOI10.1287/OPRE.22.3.545MaRDI QIDQ4045446zbMATH OpenOpenAlexFDO

Authors 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

Queueing theory (aspects of probability theory) (60K25) Applications of queueing theory (congestion, allocation, storage, traffic, etc.) (60K30) Markov and semi-Markov decision processes (90C40)

Cited in

(21)

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

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