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.
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© 2008 Springer-Verlag Berlin Heidelberg
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Ohstuka, K., Nishinari, K. (2008). Real Option Approach to Quoting Queueing System. In: Umeo, H., Morishita, S., Nishinari, K., Komatsuzaki, T., Bandini, S. (eds) Cellular Automata. ACRI 2008. Lecture Notes in Computer Science, vol 5191. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-79992-4_48
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DOI: https://doi.org/10.1007/978-3-540-79992-4_48
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-79991-7
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