Service facilities with risk-averse customers:a simulation approach
| العنوان: | Service facilities with risk-averse customers:a simulation approach |
|---|---|
| المؤلفون: | Carlos A. Delgado-Alvarez, Erik Roj Larsen, Ann van Ackere |
| المصدر: | Delgado-Alvarez, C A, van Ackere, A & Larsen, E R 2022, ' Service facilities with risk-averse customers : a simulation approach ', International Transactions in Operational Research, vol. 29, no. 4, pp. 2705-2727 . https://doi.org/10.1111/itor.12836 International Transactions in Operational Research, vol. 29, no. 4, pp. 2705-2727 |
| سنة النشر: | 2022 |
| مصطلحات موضوعية: | Service (business), decision-making under uncertainty, Actuarial science, Strategy and Management, adaptive expectations, Management Science and Operations Research, simulation, service operations management, Computer Science Applications, Management of Technology and Innovation, Service operations management, Economics, sojourn times, Business and International Management, Adaptive expectations |
| الوصف: | In this study, a one-dimensional cellular automata model is used to represent a self-organized queueing system with local interaction between captive and boundedly rational customers who repeatedly choose a facility for service. While previous work has focused on decision rules based on adaptive expectations, the present work expands this analysis by explicitly incorporating customers’ attitude toward risk to study the impact of risk aversion on the collective behavior and the average system sojourn time. The customers’ decision process is modeled using adaptive expectations and incorporating the uncertainty involved in these expectations. Customers update their expectations based on their own experience and that of their neighbors. Simulation analysis is used to compare the aggregated behavior for different degrees of customer risk aversion. Risk-neutral customers base their decisions only on their expected sojourn time, while risk-averse customers account for uncertainty by estimating an upper bound of the sojourn times. The results indicate that the more risk-averse the customers, the longer the transient period, and the more slowly the system converges to an almost stable average sojourn time. Systems where customers have an intermediate level of risk aversion achieve the worst average sojourn times. |
| وصف الملف: | application/pdf |
| اللغة: | English |
| URL الوصول: | https://explore.openaire.eu/search/publication?articleId=doi_dedup___::f09636574f5e27f03b1f6ed116bf2b8b https://pure.au.dk/ws/files/327720632/Delgado_Alvarez_2022_Service_facilities_with_risk_averse_customers.pdf |
| حقوق: | OPEN |
| رقم الأكسشن: | edsair.doi.dedup.....f09636574f5e27f03b1f6ed116bf2b8b |
| قاعدة البيانات: | OpenAIRE |
| الوصف غير متاح. |