Business-Economics-Managment Seminar

23/10/2012 - 12:40

 

Prof. Moshe Haviv

Chair, Department of Statistics

Hebrew University of Jerusalem

 

 

Title: Regulating arrivals to a queue

  

Abstract:

 

The talk will first address the issue of negative externalities in queues: One who decides to join a queue ignores the extra waiting cost one inflicts by joining on others. Had these externalities being considered by individuals, the rate of joining the queue would have been dropped considerably.

We look at various regulation schemes. Under such schemes different rules are imposed on the queue so as customers, while still selfishly minding only their own good, now behave in a socially optimal way. The talk will describe a few such schemes, most of which are known but will be put in a unified way. The schemes are based on charging entry or holding fees, or on deviating from the first come first serve queueing regime.