Related papers: Pricing in Queues with Abandonments: Optimal Polic…
In this paper, we consider an infinite horizon, continuous-review, stochastic inventory system in which cumulative customers' demand is price-dependent and is modeled as a Brownian motion. Excess demand is backlogged. The revenue is earned…
Efficient truck platooning is a key strategy for reducing freight costs, lowering fuel consumption, and mitigating emissions. Deadlines are critical in this context, as trucks must depart within specific time windows to meet delivery…
Inspired by quantum switches, we consider a discrete-time multi-way matching system with two classes of arrivals: requests for entangled pair of qubits between two nodes, and qubits from each node that can be used to serve the requests. An…
This paper studies optimal pricing and rebalancing policies for Autonomous Mobility-on-Demand (AMoD) systems. We take a macroscopic planning perspective to tackle a profit maximization problem while ensuring that the system is…
In a financial market, for agents with long investment horizons or at times of severe market stress, it is often changes in the asset price that act as the trigger for transactions or shifts in investment position. This suggests the use of…
In this paper we investigate a dynamic pricing model for constant demand elasticity where customers have a probability distribution on the number of items they order. This is a generalization from standard models which restrict customers to…
We propose a general method for deriving prognostics-based predictive maintenance policies. The method takes into account the available decision options at hand, the information on the future state of the system provided by a prognostic…
The stochastic knapsack has been used as a model in wide ranging applications from dynamic resource allocation to admission control in telecommunication. In recent years, a variation of the model has become a basic tool in studying problems…
A seller with one unit of a good faces N\geq3 buyers and a single competitor who sells one other identical unit in a second-price auction with a reserve price. Buyers who do not get the seller's good will compete in the competitor's…
We consider an online preemptive scheduling problem where jobs with deadlines arrive sporadically. A commitment requirement is imposed such that the scheduler has to either accept or decline a job immediately upon arrival. The scheduler's…
Modern business models have enabled service systems to leverage a large pool of casual employees with flexible hours, paid based on piece rates, to fulfill on-demand work. These systems have been successfully implemented in sectors such as…
Infrastructure-as-a-Service (IaaS) clouds offer diverse instance purchasing options. A user can either run instances on demand and pay only for what it uses, or it can prepay to reserve instances for a long period, during which a usage…
In societal-scale infrastructures, such as electric grids or transportation networks, pricing mechanisms are often used as a way to shape users' demand in order to lower operating costs and improve reliability. Existing approaches to…
Good economic mechanisms depend on the preferences of participants in the mechanism. For example, the revenue-optimal auction for selling an item is parameterized by a reserve price, and the appropriate reserve price depends on how much the…
We consider an M/M/1 queueing model where customers can strategically decide to enter or leave the queue. We characterize the class of queueing regimes such that, for any parameters of the model, the socially efficient behavior is an…
We consider a dynamic pricing problem where customer response to the current price is impacted by the customer price expectation, aka reference price. We study a simple and novel reference price mechanism where reference price is the…
In a ride-pooling system, travellers experience discomfort associated with a detour and a longer travel time, which is compensated with a sharing discount. Most studies assume travellers receive either a flat discount or, in rare cases, a…
A key operational challenge for call centers is to decide, in real time, which waiting customer should be served by which available agent. This is known as skill-based routing, and the decision becomes especially difficult in large systems…
We consider the optimal duration allocation in a decision making queue. Decision making tasks arrive at a given rate to a human operator. The correctness of the decision made by human evolves as a sigmoidal function of the duration…
Consider a two-class unobservable priority queue, with Poisson arrivals, generally distributed service, and strategic customers. Customers are charged a fee when joining the premium class. We analyze the maximum revenue achievable under the…