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Optimal processing rate and buffer size of a jump-diffusion processing system |
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| Authors: | Xindan Li Dan Tang Yongjin Wang Xuewei Yang |
| Institution: | 1. School of Management and Engineering, Nanjing University, Nanjing, 210093, China 2. School of International Trade and Economics, University of International Business and Economics, Beijing, 100029, China 3. School of Business, Nankai University, Tianjin, 300071, China |
| Abstract: | In this paper, we propose a reflected jump-diffusion model for processing systems with finite buffer size. We derive an analytic expression for the total expected discounted managing cost, which facilitates finding (numerically) the optimal processing rate and buffer size that minimize the total cost. Moreover, the formula for steady-state density of the processing system is obtained. |
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