Profit-Maximizing Pricing-Scheduling Policies in Queues

Event Details
  • Date/Time:
    • Friday April 28, 2006
      11:00 am - 12:00 am
  • Location: 226A Groseclose
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Contact
Barbara Christopher
Industrial and Systems Engineering
Contact Barbara Christopher
404.385.3102
Summaries

Summary Sentence: Profit-Maximizing Pricing-Scheduling Policies in Queues

Full Summary: Profit-Maximizing Pricing-Scheduling Policies in Queues

We consider the problem of designing a profit-maximizing pricing-scheduling policy for a service facility serving heterogeneous customers with private information about their service value and time-sensitivity. Our main results are: (a) If customers belong to one of finitely many types, an optimal pricing-scheduling policy can be found in polynomial time under certain natural conditions on the problem data; and (b) If customer-types form a continuum, we characterize conditions under which a natural priority auction mechanism is optimal. This work lies at the interface of economics and queueing theory, and draws on techniques from these disciplines.

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H. Milton Stewart School of Industrial and Systems Engineering (ISYE)

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Status
  • Created By: Barbara Christopher
  • Workflow Status: Published
  • Created On: Oct 8, 2010 - 7:35am
  • Last Updated: Oct 7, 2016 - 9:52pm