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Stochastic Dynamical Systems and Control |
| March 26, 2007 to March 30, 2007 |
| Organized By: Jonathan Mattingly (Duke), Igor Mezic (UCSB-Chair), Andrew Stuart (Warwick) |
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| Parent Programs: |
| Dynamical Systems |
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| Return to Workshop Description |
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Dynamic pricing to control loss systems with quality of service
Wednesday March 28, 2007
11:30AM - 12:30PM
Speakers:
William Massey
Abstract:
A wide range of real time, multiple-agent communication
services can be modeled as loss systems. Customers are
attached to these services by the price but go elsewhere
if there are no available resources for an immediate transaction. Using
price as a control mechanism for
a related dynamical queueing model, we can develop an approximate congestion
pricing algorithm that discourages
customers from using these real time services when there
is heavy usage.
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