Browsing by Subject "Dynamic Pricing, Queueing Control, Risk Management"
Now showing items 1-1 of 1
Switching On and Off the Full Capacity of an M/M/Infinity Queue & Dynamic Pricing and Power Generation Risk Management in Smart Grids (The Graduate School, Stony Brook University: Stony Brook, NY., 1-Dec-10)Part 1. We study a problem of optimal switching on and off the M/M/Infinity queue with holding, running and switching costs. We show that an optimal policy either always runs the system, or is defined by two thresholds M ...