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Optimal design of a storage system with constant or linear release rate

Published online by Cambridge University Press:  14 July 2016

Paulo Renato De Morais
Paulo Renato De Morais*
Affiliation:
CNPq/INPE
*
∗ Postal address: Instituto de Pesquisas Espaciais, Caixa Postal 515, 12200 São José dos Campos, SP, Brazil.
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Abstract

This paper is concerned with the determination of the optimal release rate for a continuous storage system. The input to the store is assumed to be a compound Poisson process (with non-negative jumps), and its content is released either at a constant rate or at a linear rate. Rewards are collected at an output-dependent rate and are continuously discounted at a constant rate. The problem consists in finding the optimal release rate which maximizes the infinite-horizon expected discounted return. This problem is solved by deriving an explicit solution for the expected discounted return, from which the optimal release rate can be found.

Keywords

EXPECTED DISCOUNTED RETURNM/G/1 QUEUE

Information

Type
Short Communications
Information
Journal of Applied Probability , Volume 22 , Issue 3 , September 1985, pp. 732 - 738
Copyright
Copyright © Applied Probability Trust 1985 

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