2023/08/01 by Xilin Zhang, Zhang, Xilin, Wang Chi Cheung +1
Business, Management and Accounting · Decision Sciences · Economics, Econometrics and Finance · #Advanced Queuing Theory Analysis #Economic theories and models #FOS: Mathematics #Optimization and Control (math.OC) #Risk and Portfolio Optimization
paper · pdf · doi:10.48550/arxiv.2308.00281
openalex publication_date 2023/08/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
We study a multi-objective model on the allocation of reusable resources under model uncertainty. Heterogeneous customers arrive sequentially according to a latent stochastic process, request for certain amounts of resources, and occupy them for random durations of time. The decision maker's goal is to simultaneously maximize multiple types of rewards generated by the customers, while satisfying the resource capacity constraints in each time step. We develop models and algorithms for deciding on the allocation actions. We show that when the usage duration is relatively small compared with the length of the planning horizon, our policy achieves 1-O(ε) fraction of the optimal expected rewards, where ε decays to zero at a near optimal rate as the resource capacities grow.