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Optimal Switching Strategy between Admission Control and Pricing Control in an M/M/1/K Queueing System  

Son, Jae-Dong (Department of Industrial and Information Systems Engineering, Soongsil University)
Publication Information
Journal of Korean Institute of Industrial Engineers / v.35, no.2, 2009 , pp. 171-177 More about this Journal
Abstract
This study presents the switching strategy between admission control and pricing control policies and clarifies the properties of the switching strategy in an M/M/1/K queueing system. In addition, this study demonstrates that employing the switching strategy can significantly improve the maximum total expected profit.
Keywords
Switching Strategy; Admission Control; Pricing Control; M/M/1/K Queue;
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