Consider a continuous time finite state irreducible Markov chain whose jump transitions are partitioned into one group that is regulated and the other group that is not. The regulated transitions are only allowed to occur if there is a token available. We collect the tokens in a buer and allow a...

This paper analyzes a waiting line system that is motivated by the operations of border-crossing stations between the United States and Canada. There are two main conflicting goals in such a system: high security level, which often leads to a longer line; and good customer service, which requires...

The overflow stream from an M/PH/1 queue of finite capacity is used as the input to an unbounded queue with one or more exponential servers. It is shown that the combined system, consisting of the two queues, may be studied as a highly structured Markov process. In the stable case, this Markov...

This paper examines the impact of the parameters of the distribution of the time at which a bank's client defaults on their obligated payments, on the Lundberg adjustment coefficient, the upper and lower bounds of the ruin probability. We study the corresponding ruin probability on the...

Acyclic phase-type distributions form a versatile model, serving as approximations to many probability distributions in various circumstances. They exhibit special properties and characteristics that usually make their applications attractive. Compared to acyclic continuous phase-type (ACPH)...