Equilibrium strategies and pricing for a congested system with opaque price and loss-averse customers

DOI10.3934/JIMO.2023037MaRDI QIDQ6102885zbMATH OpenOpenAlexFDO

Authors Jian Cao, Yong-Jiang Guo, Zhaofeng He

Publication date 23 June 2023

Published in Journal of Industrial and Management Optimization (Search for Journal in Brave)

Full work available at URL https://doi.org/10.3934/jimo.2023037

zbMATH Keywords

equilibrium queueing strategiesloss aversionopaque pricepricingreservation price

Mathematics Subject Classification ID

Applications of queueing theory (congestion, allocation, storage, traffic, etc.) (60K30) Queues and service in operations research (90B22) Noncooperative games (91A10)

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Cites work

• A model of reference-dependent preferences
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• Bundling retail products: models and analysis
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• Dynamic pricing with loss-averse consumers and peak-end anchoring
• Dynamic stochastic inventory management with reference price effects
• Equilibrium joining probabilities for an M/G/1 queue
• Intertemporal service pricing with strategic customers
• Maximum utility product pricing models and algorithms based on reservation price
• Modeling customer bounded rationality in operations management: a review and research opportunities
• Monopoly pricing in a retrial queue with delayed vacations for local area network applications
• Optimal Incentive-Compatible Priority Pricing for the M/M/1 Queue
• Optimum pricing strategy for complementary products with reservation price in a supply chain model
• Price discrimination with loss averse consumers
• Prospect Theory: An Analysis of Decision under Risk
• Regular prices and sales
• Service Pricing with Loss-Averse Customers
• The Regulation of Queue Size by Levying Tolls
• To queue or not to queue: equilibrium behavior in queueing systems.

Cited in

(4)

• A duopoly model with heterogeneous congestion-sensitive customers
• Strategic Equilibrium for a Pair of Competing Servers with Convex Cost and Balking
• An ɛ-Nash Equilibrium with High Probability for Strategic Customers in Heavy Traffic
• Psychological heterogeneity in a queue: the impact of loss aversion on service pricing

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