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Average cost under the PMλ, τ policy in a finite dam with compound Poisson inputs

Part of: Operations research and management science Special processes

Published online by Cambridge University Press:  14 July 2016

Jongho Bae ,
Sunggon Kim  and
Eui Yong Lee
Jongho Bae*
Affiliation:
Jeonju University
Sunggon Kim*
Affiliation:
KAIST
Eui Yong Lee*
Affiliation:
Sookmyung Women's University
*
∗ Postal address: Department of Mathematics, Jeonju University, Jeonju, 560-759, Republic of Korea. Email address: jongho@jeonju.ac.kr
∗∗ Postal address: Department of Electrical Engineering and Computer Science, KAIST, Daejon, 305-701, Republic of Korea.
∗∗∗ Postal address: Department of Statistics, Sookmyung Women's University, Seoul, 140-742, Republic of Korea.
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Abstract

We consider the policy in a finite dam in which the input of water is formed by a compound Poisson process and the rate of water release is changed instantaneously from a to M and from M to a (M > a) at the moments when the level of water exceeds λ and downcrosses τ (λ > τ) respectively. After assigning costs to the changes of release rate, a reward to each unit of output, and a cost related to the level of water in the reservoir, we determine the long-run average cost per unit time.

Keywords

PMλ, τ policyfinite damcompound Poisson inputlong-run average cost

MSC classification

Primary: 60K25: Queueing theory
Secondary: 90B05: Inventory, storage, reservoirs
Type
Short Communications
Information
Journal of Applied Probability , Volume 40 , Issue 2 , June 2003 , pp. 519 - 526
Copyright
Copyright © Applied Probability Trust 2003 

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References

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