A Dynamic Queuing Model

26 Pages Posted: 29 Sep 2007

See all articles by Susheng Wang

Susheng Wang

Hong Kong University of Science & Technology (HKUST) - Department of Economics

Lijing Zhu

Hong Kong University of Science & Technology - Office of the Vice-President for Academic Affairs

Date Written: February 2005

Abstract

This paper proposes a dynamic queuing model in which excess demand is cleared through multiple shifts. Due to differences in valuation and costs, some consumers choose to compete in queues for early consumption, while others avoid queues by late consumption. A unique efficient rational expectations equilibrium is shown to exist and some general characteristics of the queuing equilibrium are analyzed. The theory is then applied to some interesting realistic situations such as shopping, highways, and restaurants.

Keywords: Queuing, Heterogenous Preferences, Heterogenous Discount

JEL Classification: D11, C72

Suggested Citation

Wang, Susheng and Zhu, Lijing, A Dynamic Queuing Model (February 2005). Available at SSRN: https://ssrn.com/abstract=1017790 or http://dx.doi.org/10.2139/ssrn.1017790

Susheng Wang (Contact Author)

Hong Kong University of Science & Technology (HKUST) - Department of Economics ( email )

Clear Water Bay
Hong Kong
China

Lijing Zhu

Hong Kong University of Science & Technology - Office of the Vice-President for Academic Affairs ( email )

Clearwater Bay
Kowloon, 999999
Hong Kong

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