Publications by Year: 2008

2008
Printezis, A. & Burnetas, A., 2008. Priority option pricing in an M/M/m queue. Operations Research Letters, 36, pp.700-704. Website
Printezis, A. & Burnetas, A.N., 2008. Priority option pricing in an M/M/m queue. Operations Research Letters, 36, pp.700-704. Website Abstract
We study a system where the service provider offers priority options. We identify the optimal option pricing policy, by deriving the optimal number a customer would buy and the customer's exercise policy as a function of system congestion, options remaining, time to expiration and possibility of balking.