A Model for Equilibrium in Some Service-provider User-set Interactions

Speaker: 

N. Hemachandra

Affiliation: 

Industrial Engineering and Operations Research
IIT Bombay
Powai
Mumbai 400076

Time: 

Tuesday, 16 April 2013, 15:00 to 16:00

Venue: 

Organisers: 

We propose a model for interaction between an user-set (market) and a service-provider (firm) when the offered demand is sensitive to the offered Quality of Service. We show that, under fairly mild conditions, an equilibrium point or an equilibrium set exists when the service-provider bases its operational decisions as per an optimal policy of an average reward multi-chain Markov decision model. We illustrate these and related issues via a model for vehicle relocation system.