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Stochastic models

Stochastic models such as queueing models, etc., aim to capture the nature of systems that evolve dynamically over time in a random environment. In particular, queueing models provide a framework for sharing of resources for users that arrive over time. Some recent work explored in this area investigates the use of queueing models for design of service level based contracts between supply chain partners. Such contracts can aim for co-ordination in investment as well as usage of resources among various players in a supply chain. Contracts may as well aim optimal pricing and usage of resources while providing specified quality of service (QoS) levels. Another strand of work is the use of simulation based methods for parameter optimization as well as in differentiated pricing of network resources. 

Faculty: V. Kavitha, N.Hemachandra, M. Hanawal, Mallikarjuna Rao