We compare the optimal operating cost of the two bicriterion policies, <p,T> and <p,N>, for an M/G/1 queueing system with second optional service, in which the length of the vacation period is randomly con...We compare the optimal operating cost of the two bicriterion policies, <p,T> and <p,N>, for an M/G/1 queueing system with second optional service, in which the length of the vacation period is randomly controlled either by the number of arrivals during the idle period or by a timer. After all the customers are served in the queue exhaustively, the server immediately takes a vacation and may operate <p,T> policy or <p,N> policy. For the two bicriterion policies, the total average cost function per unit time is developed to search the optimal stationary operating policies at a minimum cost. Based upon the optimal cost the explicit forms for joint optimum threshold values of (p,T) and (p,N) are obtained.展开更多
This article analyzes R & D investment decisions in an asymmetrical case. The investment decisions share three important characteristics. First, the investment is completely irreversible. Second, there are two kinds ...This article analyzes R & D investment decisions in an asymmetrical case. The investment decisions share three important characteristics. First, the investment is completely irreversible. Second, there are two kinds of uncertainties over the future returns from the investment and over technology in R & D process, respectively. Third, there is strategic competition in the asymmetrical case. This article presents the optimal investment threshold values and the optimal investment rule of high-efficient firm (leader), and shows that the investment threshold values are reduced by competition of two firms. Finally, the mixed investment strategies for two firms, the probability that each firm separately exercises the option to invest, and the probability that two firms simultaneously exercise the option are given in the paper.展开更多
文摘We compare the optimal operating cost of the two bicriterion policies, <p,T> and <p,N>, for an M/G/1 queueing system with second optional service, in which the length of the vacation period is randomly controlled either by the number of arrivals during the idle period or by a timer. After all the customers are served in the queue exhaustively, the server immediately takes a vacation and may operate <p,T> policy or <p,N> policy. For the two bicriterion policies, the total average cost function per unit time is developed to search the optimal stationary operating policies at a minimum cost. Based upon the optimal cost the explicit forms for joint optimum threshold values of (p,T) and (p,N) are obtained.
基金This work is supported by Post Doctor Science Foundation of China(2003034479)Natural Science Foundation of China(70671047)
文摘This article analyzes R & D investment decisions in an asymmetrical case. The investment decisions share three important characteristics. First, the investment is completely irreversible. Second, there are two kinds of uncertainties over the future returns from the investment and over technology in R & D process, respectively. Third, there is strategic competition in the asymmetrical case. This article presents the optimal investment threshold values and the optimal investment rule of high-efficient firm (leader), and shows that the investment threshold values are reduced by competition of two firms. Finally, the mixed investment strategies for two firms, the probability that each firm separately exercises the option to invest, and the probability that two firms simultaneously exercise the option are given in the paper.