Light-traffic approximation in queues and related stochastic models

Light-traffic approximations in queues refer to results on the asymptotic behaviour of queueing characteristics when arrivals are getting sparse and, in the limit, there is no arrival. In the present article, the authors discuss several light-traffic schemes which were introduced and studied by different authors. They analyze light-traffic results with respect to methods, models, and the order of approximation. Moreover, the authors show how the idea of light-traffic approximation can be utilized in risk and dam models. They also discuss open problems and areas for future research.