Optimal Pricing in a Single Server System

We study optimal pricing in a single server queue when the customers valuation of service depends on their waiting time. In particular, we consider very general model, where customer valuations are random and sampled from distribution that length. The goal provider is to set dynamic state dependent prices order maximize its revenue, while also managing congestion. model problem as Markov decision process, present structural results policy. an algorithm find approximate further myopic policy easy evaluate bounds performance. finally illustrate quality our solution using numerical simulations.