Incorporating waiting time in competitive location models: Formulations and heuristics

In this paper we propose a metaheuristic to solve a new version of the Maximum Capture Problem. In the original MCP, market capture is obtained by lower traveling distances or lower traveling time, in this new version not only the traveling time but also the waiting time will affect the market share. This problem is hard to solve using standard optimization techniques. Metaheuristics are shown to offer accurate results within acceptable computing times.

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Year of publication:	2008-05
Authors:	Silva, Francisco ; Serra, Daniel
Institutions:	Department of Economics and Business, Universitat Pompeu Fabra
Subject:	Market capture \| queuing \| ant colony optimization

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Extent:	application/pdf
Series:	Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; L80 - Industry Studies: Services. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005704944