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Article: A tandem queueing system with applications to pricing strategy

TitleA tandem queueing system with applications to pricing strategy
Authors
KeywordsDemand
Optimization
Queueing systems
Queues in tandem
Issue Date2009
PublisherAmerican Institute of Mathematical Sciences. The Journal's web site is located at http://aimsciences.org/journals/jimo/description.htm
Citation
Journal Of Industrial And Management Optimization, 2009, v. 5 n. 1, p. 103-114 How to Cite?
AbstractIn this paper, we analyze a Markovian queueing system with multiple types of customers and two queues in tandem. All customers have to go through two stages of services. In Stage 1, the queueing system has multiple identical servers while in Stage 2, there is one single-server queue for each type of customers. The queueing discipline in the whole system is Blocked Customer Delayed (BCD). We first obtain the steady-state probability distribution of the queueing system and the expected waiting time for customers. We then apply the queueing model to solve an optimal pricing policy problem in assuming that the demand rate is dependent on the price. The objective is to minimize the number of servers in the first stage and also maximize the expected earnings by taking into account the demand and the prices. We also obtained some analytic results for the optimal pricing strategy.
Persistent Identifierhttp://hdl.handle.net/10722/58980
ISSN
2015 Impact Factor: 0.776
2015 SCImago Journal Rankings: 0.639
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorChing, WKen_HK
dc.contributor.authorChoi, SMen_HK
dc.contributor.authorLi, Ten_HK
dc.contributor.authorLeung, IKCen_HK
dc.date.accessioned2010-05-31T03:40:44Z-
dc.date.available2010-05-31T03:40:44Z-
dc.date.issued2009en_HK
dc.identifier.citationJournal Of Industrial And Management Optimization, 2009, v. 5 n. 1, p. 103-114en_HK
dc.identifier.issn1547-5816en_HK
dc.identifier.urihttp://hdl.handle.net/10722/58980-
dc.description.abstractIn this paper, we analyze a Markovian queueing system with multiple types of customers and two queues in tandem. All customers have to go through two stages of services. In Stage 1, the queueing system has multiple identical servers while in Stage 2, there is one single-server queue for each type of customers. The queueing discipline in the whole system is Blocked Customer Delayed (BCD). We first obtain the steady-state probability distribution of the queueing system and the expected waiting time for customers. We then apply the queueing model to solve an optimal pricing policy problem in assuming that the demand rate is dependent on the price. The objective is to minimize the number of servers in the first stage and also maximize the expected earnings by taking into account the demand and the prices. We also obtained some analytic results for the optimal pricing strategy.en_HK
dc.languageengen_HK
dc.publisherAmerican Institute of Mathematical Sciences. The Journal's web site is located at http://aimsciences.org/journals/jimo/description.htmen_HK
dc.relation.ispartofJournal of Industrial and Management Optimizationen_HK
dc.subjectDemanden_HK
dc.subjectOptimizationen_HK
dc.subjectQueueing systemsen_HK
dc.subjectQueues in tandemen_HK
dc.titleA tandem queueing system with applications to pricing strategyen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1547-5816&volume=5&spage=103&epage=114&date=2009&atitle=A+Tandem+Queueing+System+with+Applications+to+Pricing+Strategyen_HK
dc.identifier.emailChing, WK:wching@hku.hken_HK
dc.identifier.authorityChing, WK=rp00679en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.3934/jimo.2009.5.103en_HK
dc.identifier.scopuseid_2-s2.0-64849103980en_HK
dc.identifier.hkuros154106en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-64849103980&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume5en_HK
dc.identifier.issue1en_HK
dc.identifier.spage103en_HK
dc.identifier.epage114en_HK
dc.identifier.isiWOS:000263354500009-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridChing, WK=13310265500en_HK
dc.identifier.scopusauthoridChoi, SM=26435077400en_HK
dc.identifier.scopusauthoridLi, T=10143243300en_HK
dc.identifier.scopusauthoridLeung, IKC=36913978900en_HK

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