Optimal parking of idle elevators under myopic and state-dependent policies

In this paper we discuss the problem of optimally parking single and multiple idle elevators under light-traffic conditions. The problem is analyzed from the point of view of the elevator owner whose objective is to minimize the expected total cost of parking and dispatching the elevator (which includes the cost incurred for waiting passengers). We first consider the case of a single elevator and analyze a (commonly used but suboptimal) …