Pricing computer services: queueing effects
Communications of the ACM
Optimal incentive-compatible priority pricing for the M/M/1 queue
Operations Research
Inventory control in a fluctuating demand environment
Operations Research
State space collapse with application to heavy traffic limits for multiclass queueing networks
Queueing Systems: Theory and Applications
Queueing Systems: Theory and Applications
Performance measures for service systems with a random arrival rate
WSC '05 Proceedings of the 37th conference on Winter simulation
Dynamic Pricing and Lead-Time Quotation for a Multiclass Make-to-Order Queue
Management Science
Model Predictive Control for Dynamic Resource Allocation
Mathematics of Operations Research
Dynamic Pricing with Financial Milestones: Feedback-Form Policies
Management Science
Queueing Systems: Theory and Applications
Bayesian Dynamic Pricing in Queueing Systems with Unknown Delay Cost Characteristics
Manufacturing & Service Operations Management
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We consider a revenue-maximizing make-to-order manufacturer that serves a market of price-and delay-sensitive customers and operates in an environment in which the market size varies stochastically over time. A key feature of our analysis is that no model is assumed for the evolution of the market size. We analyze two main settings: (i) the size of the market is observable at any point in time; and (ii) the size of the market is not observable and hence cannot be used for decision making. We focus on high-volume systems that are characterized by large processing capacities and market sizes, and where the latter fluctuate on a slower timescale than that of the underlying production system dynamics. We develop an approach to tackle such problems that is based on an asymptotic analysis and that yields near-optimal policy recommendations for the original system via the solution of a stochastic fluid model.