Approximating the Equilibrium Behavior of Multi-Server Loss Systems

Article Abstract:

A procedure is given for approximating the equilibrium behavior of multi-server loss systems having distinguishable servers and multiple customer types under light to moderate traffic intensity. Calls are assumed to arrive according to independent Poisson processes for each customer type. General service time distributions which may depend on both server and customer type are allowed. For N servers, the approximation routine consists of a simple iterative procedure in N nonlinear equations. Computational experience with respect to the convergence properties of the iteration and the accuracy of the approximation is given. (Reprinted by Permission of publisher).

Management science, Scheduling, Systems, Operations Research, Methods, Approximation, Queues

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Approximating the equilibrium behavior of multi-server loss systems

Article Abstract:

Queueing models with several differentiated service providers and several service requestor types are assigned equilibrium behaviors under light to moderate traffic conditions. The procedure for assigning such equilibrium behavior is explained in detail. The model's assumptions include: service requests that reflect independent Poisson processes, and general service times that reflect the service provider and type of service requestor involved. The assumptions are quantified by the approximation technique that utilizes iterative procedures and nonlinear equations.

Research, Case studies, Scheduling (Management), Queuing theory, Equilibrium

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Multinomial approximating models for options with k state variables

Article Abstract:

The financial economics problem of valuating contingent claims, with values determined by varied sources of uncertainty, is analyzed. The use of efficient algorithms in addressing this problem is proposed, considering that numerical valuation techniques can be computationally costly, while closed form solutions are uncommon. Multinomial models, including the multinomial approximating option model, for valuing claims are discussed.

Analysis, Mathematical models, Valuation, Claims (International law)

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