We study the value of dynamic pricing to maximize revenues in queueing systems with price and delay sensitive customers. The system queue length is visible so that upon arrival, customers decide to join the system based on the congestion and the price at that time. We analyze this problem in the...

We consider a make-to-stock manufacturing system selling multiple products to price-sensitive customers. The system manager seeks to maximize the long-run average profit by making dynamic pricing, outsourcing, and scheduling decisions: First, she adjusts prices dynamically depending on the...

From surge pricing by Uber to last-minute fare increases by airlines, the use of price hikes to determine who should gain access to scarce resources has swept the business world in recent years, enabled by the easy access to information on what consumers are willing to pay, and the power of...

We consider optimal pricing for a two-station tandem queueing system with finite buffers and price-sensitive customers. The service provider quotes prices to customers using either static or dynamic pricing. The objective is to maximize either the infinite-horizon discounted profit or the...