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A Versatile Queuing System For Sharing Economy Platform Operations

Author

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  • Song-Kyoo Kim

    (Center for Cyber-Physical Systems, ECE Department, Khalifa University, P.O. Box 127788, Abu Dhabi, UAE)

  • Chan Yeob Yeun

    (Center for Cyber-Physical Systems, ECE Department, Khalifa University, P.O. Box 127788, Abu Dhabi, UAE)

Abstract

The paper deals with a sharing economy system with various management factors by using a bulk input G/M/1 type queuing model. The effective management of operating costs is vital for controlling the sharing economy platform and this research builds the theoretical background to understand the sharing economy business model. Analytically, the techniques include a classical Markov process of the single channel queueing system, semi-Markov process and semi-regenerative process. It uses the stochastic congruent properties to find the probability distribution of the number of contractors in the sharing economy platform. The obtained explicit formulas demonstrate the usage of functional for the main stochastic characteristics including sharing expenses due to over contracted resources and optimization of their objective function.

Suggested Citation

  • Song-Kyoo Kim & Chan Yeob Yeun, 2019. "A Versatile Queuing System For Sharing Economy Platform Operations," Mathematics, MDPI, vol. 7(11), pages 1-14, October.
    • Handle: RePEc:gam:jmathe:v:7:y:2019:i:11:p:1005-:d:279259
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    References listed on IDEAS

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    3. Juho Hamari & Mimmi Sjöklint & Antti Ukkonen, 2016. "The sharing economy: Why people participate in collaborative consumption," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 67(9), pages 2047-2059, September.
    4. Tijms, H. C. & Duyn Schouten, F. A. van der, 1978. "Inventory control with two switch-over levels for a class of M/G/1 queueing systems with variable arrival and service rate," Stochastic Processes and their Applications, Elsevier, vol. 6(2), pages 213-222, January.
    5. Matjaž Perc & Mahmut Ozer & Janja Hojnik, 2019. "Social and juristic challenges of artificial intelligence," Palgrave Communications, Palgrave Macmillan, vol. 5(1), pages 1-7, December.
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    Cited by:

    1. Farida F. Galimulina & Naira V. Barsegyan, 2024. "Application of Mass Service Theory to Economic Systems Optimization Problems—A Review," Mathematics, MDPI, vol. 12(3), pages 1-18, January.

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