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Optimization Problems in Simple Competitive Model

  • Jonas Mockus
  • William Eddy
  • Audris Mockus
  • Linas Mockus
  • Gintaras Reklaitis
Part of the Nonconvex Optimization and Its Applications book series (NOIA, volume 17)

Abstract

We consider here optimization problems of a simple competitive model. There are several servers providing the same service. Each server fixes the price and the rate of service. The rate of service defines the customers time losses while waiting in queue for the service. The customer goes to the server with lesser total service cost. The total cost includes the service price plus waiting losses. The customer goes away, if the total cost exceeds a certain critical level. Both the flow of customers and the service time are stochastic. There is no known analytical solution for this model. The results are obtained by Monte-Carlo simulation. The analytical solution of a simplified model is considered.

Keywords

Average Waiting Time Competitive Model Service Price Initial Contract Customer Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media Dordrecht 1997

Authors and Affiliations

  • Jonas Mockus
    • 1
    • 2
    • 3
  • William Eddy
    • 4
  • Audris Mockus
    • 5
  • Linas Mockus
    • 6
  • Gintaras Reklaitis
    • 6
  1. 1.Institute of Mathematics and InformaticsKaunas Technological UniversityVilniusLithuania
  2. 2.Vytautas Magnus UniversityVilniusLithuania
  3. 3.Vilnius Technical UniversityVilniusLithuania
  4. 4.Department of StatisticsCarnegie-Mellon UniversityPittsburghUSA
  5. 5.Lucent Technologies AT&T Bell LaboratoriesPittsburghUSA
  6. 6.School of Chemical EngineeringPurdue UniversityW. LafayetteUSA

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