Queuing Theory

Discipline: Economics

Developed as an extension of probability theory, queuing theory deals with the analysis of congestion and delay in economic modeling.

Queuing theory features in stock control in the shape of the Lifo (Last in first out) and Fifo (First in first out) principles, and in financial markets.

Also see: information theory

D Gross and C M Harris, Fundamentals of Queuing Theory (New York, 1985)


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