Decentralized Regulation of a Queue

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Advanced Queuing Theory Analysis Game Theory and Voting Systems Game Theory and Applications

Abstract

A bidding machanism for determining priorities in a service system is analyzed. It is shown that when all customers have the same exponential service demand, this mechanism induces both the socially optimal arrival process and the service order. It is also shown that the profit-maximizing service rate in this model is smaller than or equal to the socially optimal one.

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1969Asian Drama: An Inquiry into the Poverty of Nations 1985An Equilibrium Queuing Model of Bribery 1969The Regulation of Queue Size by Levying Tolls 1990Optimal Incentive-Compatible Priority Pricing for the M/M/1 Queue 1975Congestion Tolls for Poisson Queuing Processes 1985Optimal control of admission to a quenching system 1985Competitive bidding with entry costs 1990User Delay Costs and Internal Pricing for a Service Facility

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2005Priority Auctions and Queue Disciplines That Depend on Processing Time 1998Incentive-Compatible Pricing for a Service Facility with Joint Production and Congestion Externalities 2015Trading Time in a Congested Environment 2001Optimal Pricing That Coordinates Queues with Customer-Chosen Service Requirements 2018The Economics of Line-Sitting 2013Pricing Time-Sensitive Services Based on Realized Performance

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