A Versatile Queuing System For Sharing Economy Platform Operations

Song-Kyoo Kim and Chan Yeob Yeun
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Song-Kyoo Kim: Center for Cyber-Physical Systems, ECE Department, Khalifa University, P.O. Box 127788, Abu Dhabi, UAE
Chan Yeob Yeun: Center for Cyber-Physical Systems, ECE Department, Khalifa University, P.O. Box 127788, Abu Dhabi, UAE

Mathematics, 2019, vol. 7, issue 11, 1-14

Abstract: The paper deals with a sharing economy system with various management factors by using a bulk input G/M/1 type queuing model. The effective management of operating costs is vital for controlling the sharing economy platform and this research builds the theoretical background to understand the sharing economy business model. Analytically, the techniques include a classical Markov process of the single channel queueing system, semi-Markov process and semi-regenerative process. It uses the stochastic congruent properties to find the probability distribution of the number of contractors in the sharing economy platform. The obtained explicit formulas demonstrate the usage of functional for the main stochastic characteristics including sharing expenses due to over contracted resources and optimization of their objective function.

Keywords: non-linear system; sharing economy; service management; semi-regenerative process; stochastic congruence; queueing model (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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