Stochastic control of queueing systems

N. U. Prabhu

Naval Research Logistics Quarterly, 1974, vol. 21, issue 3, 411-418

Abstract: Suppose that the state of a queueing system is described by a Markov process { Yt, t ≥ 0}, and the profit from operating it up to a time t is given by the function f(Yt). We operate the system up to a time T, where the random variable T is a stopping time for the process Yt. Optimal stochastic control is achieved by choosing the stopping time T that maximizes Ef(YT) over a given class of stopping times. In this paper a theory of stochastic control is developed for a single server queue with Poisson arrivals and general service times.

Date: 1974
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:21:y:1974:i:3:p:411-418

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