Abstract
The new method of estimating net present values of a queue is proposed. We complementary employ real option theory and the asymmetric exclusion process (ASEP) as the valuating procedure. By pricing the dynamics of the ASEP, we succeed in identifying an ambiguous word, human congestion, quantitatively. An analogy between a clogged queue and a cash flow of an active firm is formulated. © 2008 Springer-Verlag Berlin Heidelberg.
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CITATION STYLE
Ohstuka, K., & Nishinari, K. (2008). Real option approach to quoting queueing system. In Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) (Vol. 5191 LNCS, pp. 374–378). https://doi.org/10.1007/978-3-540-79992-4_48
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