Revenue Management of Reusable Resources with Advanced Reservations
نویسندگان
چکیده
We consider a revenue management problem wherein the seller is endowed with a single type resource with a finite capacity and the resource can be repeatedly used to serve customers. There are multiple classes of customers arriving according to a multi-class Poisson process. Each customer, upon arrival, submits a service request that specifies his service start time and end time. Our model allows customer advanced reservation times and services times in each class to be arbitrarily distributed and correlated. Upon arrival of each customer, the seller must instantaneously decide whether to accept this customer’s service request. A customer whose request is denied leaves the system. A customer whose request is accepted is allocated with a specific item of the resource at his service start time. The resource unit occupied by a customer becomes available to other customers after serving this customer. The seller aims to design an admission control policy that maximizes her expected long-run average revenue. We propose a policy called the -perturbation class selection policy ( -CSP), based on the optimal solution in the fluid setting wherein customers are infinitesimal and customer arrival processes are deterministic, under the restriction that the seller can utilize at most (1 − ) of her capacity for any ∈ (0, 1). We prove that the -CSP is near-optimal. More precisely, we develop an upper bound of the performance loss of the -CSP relative to the seller’s optimal revenue, and show that it converges to zero with a square-root convergence rate in the asymptotic regime wherein the arrival rates and the capacity grow up proportionally and the capacity buffer level decays to zero.
منابع مشابه
Electronic Companion — “ Provably Near - Optimal LP - Based Policies for Revenue Management in Systems with Reusable Resources ”
متن کامل
Advance Reservation and Revenue-based Resource Management for Grid Systems
In most Grid systems, submitted jobs are initially placed into a queue if there are no available compute nodes. Therefore, there is no guarantee as to when these jobs will be executed. This usage policy may cause a problem for time-critical applications or task graphs where jobs have inter-dependencies. To address this issue, using advance reservation (AR) in Grid systems would allow users to s...
متن کاملProvably Near-Optimal LP-Based Policies for Revenue Management in Systems with Reusable Resources
Motivated by emerging applications in workforce management, we consider a class of revenue management problems in systems with reusable resources. The corresponding applications are modeled using the well-known loss network systems. We use an extremely simple linear program (LP) that provides an upper bound on the best achievable expected long-run revenue rate. The optimal solution of the LP is...
متن کاملProvably Near-Optimal LP-Based Policies for Revenue Management in Systems with Reusable Resources (Preliminary Draft)
Motivated by emerging applications in workforce management, we consider a class of revenue management problems in systems with reusable resources. The corresponding applications are modeled using the well-known loss network systems (sometime also called the stochastic knapsack model). We use an extremely simple linear program (LP) that provides an upper bound on the best achievable expected lon...
متن کاملDynamic Allocation Problems in Loss Network Systems with Advanced Reservation
We consider a class of well-known dynamic resource allocation models in loss network systems with advanced reservation. The most important performance measure in any loss network system is to compute its blocking probability, i.e., the probability of an arriving customer in equilibrium finds a fully utilized system (thereby getting rejected by the system). In this paper, we derive upper bounds ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2017