MDP based optimal pricing for a cloud computing queueing model

RAMI ATAR; ISRAEL CIDON; Mark Shifrin

doi:10.1016/j.peva.2014.05.001

MDP based optimal pricing for a cloud computing queueing model

RAMI ATAR, ISRAEL CIDON, Mark Shifrin

Technion - Israel Institute of Technology

Research output: Contribution to journal › Article › peer-review

Abstract

We study the optimization of dynamic pricing in a queueing model with a finite buffer, where arrival rates depend on advertised price levels. We apply our study to a pricing policy in a cloud computing service provider setup. The main result of this paper is the multi-threshold structure of the optimal policy.

Original language	English
Pages (from-to)	1-6
Number of pages	6
Journal	Performance Evaluation
Volume	78
DOIs	https://doi.org/10.1016/j.peva.2014.05.001
State	Published - Aug 2014

Keywords

Cloud computing
MDP
Optimal pricing
Price-based revenue management
Threshold policy

All Science Journal Classification (ASJC) codes

Software
Modelling and Simulation
Hardware and Architecture
Computer Networks and Communications

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10.1016/j.peva.2014.05.001

Cite this

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title = "MDP based optimal pricing for a cloud computing queueing model",

abstract = "We study the optimization of dynamic pricing in a queueing model with a finite buffer, where arrival rates depend on advertised price levels. We apply our study to a pricing policy in a cloud computing service provider setup. The main result of this paper is the multi-threshold structure of the optimal policy.",

keywords = "Cloud computing, MDP, Optimal pricing, Price-based revenue management, Threshold policy",

author = "RAMI ATAR and ISRAEL CIDON and Mark Shifrin",

note = "Funding Information: Research supported in part by the ISF (Grant 1315/12 ), the US–Israel BSF (Grant 2008466 ), and the Technion fund for promotion of research.",

year = "2014",

month = aug,

doi = "10.1016/j.peva.2014.05.001",

language = "الإنجليزيّة",

volume = "78",

pages = "1--6",

journal = "Performance Evaluation",

issn = "0166-5316",

publisher = "Elsevier B.V.",

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AU - ATAR, RAMI

AU - CIDON, ISRAEL

AU - Shifrin, Mark

N1 - Funding Information: Research supported in part by the ISF (Grant 1315/12 ), the US–Israel BSF (Grant 2008466 ), and the Technion fund for promotion of research.

PY - 2014/8

Y1 - 2014/8

N2 - We study the optimization of dynamic pricing in a queueing model with a finite buffer, where arrival rates depend on advertised price levels. We apply our study to a pricing policy in a cloud computing service provider setup. The main result of this paper is the multi-threshold structure of the optimal policy.

AB - We study the optimization of dynamic pricing in a queueing model with a finite buffer, where arrival rates depend on advertised price levels. We apply our study to a pricing policy in a cloud computing service provider setup. The main result of this paper is the multi-threshold structure of the optimal policy.

KW - Cloud computing

KW - MDP

KW - Optimal pricing

KW - Price-based revenue management

KW - Threshold policy

UR - http://www.scopus.com/inward/record.url?scp=84903187183&partnerID=8YFLogxK

U2 - 10.1016/j.peva.2014.05.001

DO - 10.1016/j.peva.2014.05.001

M3 - مقالة

SN - 0166-5316

VL - 78

SP - 1

EP - 6

JO - Performance Evaluation

JF - Performance Evaluation

ER -

MDP based optimal pricing for a cloud computing queueing model

Abstract

Keywords

All Science Journal Classification (ASJC) codes

Access to Document

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