Optimal prices for finite capacity queueing systems

Authors:
Serhan Ziya;Hayriye Ayhan;Robert D. Foley
Affiliations:
Department of Statistics and Operations Research, University of North Carolina, CB# 3260, 213 Smith Building, Chapel Hill, NC 27599, USA;School of Industrial and Systems Engineering, Georgia Institute of Technology, Atlanta, GA, USA;School of Industrial and Systems Engineering, Georgia Institute of Technology, Atlanta, GA, USA
Venue:
Operations Research Letters
Year:
2006

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Abstract

We prove a lower bound on the optimal price for a fairly large class of blocking systems with general arrival and service processes, determine optimal price expressions for M/M/1/m and M/GI/s/s systems, and investigate how optimal prices change with changes in the size of the waiting room and service capacity.