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Dynamic pricing and scheduling in a multi-class single-server queueing system

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dc.contributor.coauthorCil, Eren Basar
dc.contributor.departmentDepartment of Industrial Engineering
dc.contributor.facultymemberYes
dc.contributor.kuauthorKaraesmen, Fikri
dc.contributor.kuauthorÖrmeci, Lerzan
dc.contributor.schoolcollegeinstituteCollege of Engineering
dc.date.accessioned2024-11-09T23:18:05Z
dc.date.issued2011
dc.description.abstractThis paper investigates an optimal sequencing and dynamic pricing problem for a two-class queueing system. Using a Markov Decision Process based model, we obtain structural characterizations of optimal policies. In particular, it is shown that the optimal pricing policy depends on the entire queue length vector but some monotonicity results prevail as the composition of this vector changes. A numerical study finds that static pricing policies may have significant suboptimality but simple dynamic pricing policies perform well in most situations.
dc.description.fulltextNo
dc.description.harvestedfromManual
dc.description.indexedbyWOS
dc.description.indexedbyScopus
dc.description.openaccessNO
dc.description.peerreviewstatusN/A
dc.description.publisherscopeInternational
dc.description.readpublishN/A
dc.description.sponsoredbyTubitakEuN/A
dc.description.sponsorshipTUBITAK
dc.description.sponsorshipTUBA-GEBIP programme This research was partially supported by TUBITAKand the TUBA-GEBIP programme. F. Karaesmen is grateful to the Dept. of Ind. Eng. and Man. Sci. of Northwestern University where part of this research was done.
dc.description.studentonlypublicationNo
dc.description.studentpublicationNo
dc.description.versionN/A
dc.identifier.doi10.1007/s11134-011-9214-5
dc.identifier.embargoN/A
dc.identifier.issn0257-0130
dc.identifier.quartileQ4
dc.identifier.scopus2-s2.0-79956196567
dc.identifier.urihttps://doi.org/10.1007/s11134-011-9214-5
dc.identifier.urihttps://hdl.handle.net/20.500.14288/10325
dc.identifier.wos290725100003
dc.keywordsDynamic control of queues
dc.keywordsMulti-class system
dc.keywordsDynamic pricing
dc.keywordsMarkov Decision Processes
dc.keywordsOptimal prices
dc.keywordsParameters
dc.keywordsAdmission
dc.keywordsPolicies
dc.keywordsQueues
dc.keywordsRule
dc.language.isoeng
dc.publisherSpringer
dc.relation.affiliationKoç University
dc.relation.collectionKoç University Institutional Repository
dc.relation.ispartofQueueing Systems
dc.relation.openaccessN/A
dc.rightsN/A
dc.subjectComputer science
dc.subjectInterdisciplinary applications
dc.subjectOperations research
dc.subjectManagement science
dc.titleDynamic pricing and scheduling in a multi-class single-server queueing system
dc.typeJournal Article
dspace.entity.typePublication
local.contributor.kuauthorKaraesmen, Fikri
local.contributor.kuauthorÖrmeci, Lerzan
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