Comparison of socially optimal and profit maximizing prices in an unobservable queue with heterogeneous waiting costs
- Authors
- Kim, Bara; Kim, Jeongsim
- Issue Date
- 3월-2021
- Publisher
- ELSEVIER
- Keywords
- Unobservable queue; Optimal price; Optimal arrival rate
- Citation
- OPERATIONS RESEARCH LETTERS, v.49, no.2, pp.207 - 211
- Indexed
- SCIE
SCOPUS
- Journal Title
- OPERATIONS RESEARCH LETTERS
- Volume
- 49
- Number
- 2
- Start Page
- 207
- End Page
- 211
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/128435
- DOI
- 10.1016/j.orl.2021.01.006
- ISSN
- 0167-6377
- Abstract
- We consider a general unobservable queueing model in which customers are allowed to join or balk upon arrival. The service provider charges the same admission fee to all joining customers. All joining customers receive the same reward and incur heterogeneous waiting cost rates. We show that the socially optimal arrival rate is greater than or equal to the profit maximizing arrival rate. Equivalently, the socially optimal admission fee is smaller than or equal to the profit maximizing admission fee. (C) 2021 Elsevier B.V. All rights reserved.
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Collections - College of Science > Department of Mathematics > 1. Journal Articles
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