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This paper presents an analytical framework for dynamic spectrum allocation in cognitive radio networks. We propose a distributed queuing based Markovian model each for single channel and multiple channels access for a contending user. Knowledge about spectrum mobility is one of the most challenging problems in both these setups. To solve this, we consider probabilistic channel availability in case of licensed channel detection for single channel allocation, while variable data rates are considered using channel aggregation technique in the multiple channel access model. These models are designed for a centralized architecture to enable dynamic spectrum allocation and are compared on the basis of access latency and service duration.