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There is now a CONTENT FREEZE for Mercury while we switch to a new platform. It began on Friday, March 10 at 6pm and will end on Wednesday, March 15 at noon. No new content can be created during this time, but all material in the system as of the beginning of the freeze will be migrated to the new platform, including users and groups. Functionally the new site is identical to the old one. webteam@gatech.edu
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We consider a service facility modeled as a queueing system with either a finite or an infinite capacity waiting area. The decision-maker sets the price a customer must pay for service. Arriving customers enter the system if they are willing to pay the set price and if there is space available in the waiting room. We analyze two different pricing policies: uniform pricing and precision pricing. Under uniform pricing, all customers are charged the same price. Under precision pricing, the decision-maker charges different prices to different customer types. Under certain conditions, we determine optimal prices and analyze their relationships with system parameters and customers' willingness-to-pay.
