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We consider a simple, deterministic queueing system with feedback, which exhibits the phenomena of sustained oscillation, mode locking, quasi-periodic behaviour, and chaos. This implies that a fully deterministic queueing system can exhibit seemingly unpredictable behaviour. We ignore...
Persistent link: https://www.econbiz.de/10009214784
The integration of electricity markets creates new challenges to the regulators in their commitment to guarantee security of supply at affordable prices. Even at a national level, designing policies for electricity markets is an extremely complex task; but this is exacerbated in the case of...
Persistent link: https://www.econbiz.de/10011190894
In this paper we develop a behavioural model in which customers come and go based on their perception of waiting time (relative to other facilities) while managers gradually adjust the capacity of the facility based on their perception of demand. We explicitly account for the difference in...
Persistent link: https://www.econbiz.de/10010594890