Download This PaperIncorporating Waiting Time in Competitive Location Models: Formulations and Heuristics
21 Pages Posted: 11 Jun 2008
Date Written: May 2008
Abstract
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.
Keywords: Market capture, queuing, ant colony optimization
JEL Classification: C61, L80
Suggested Citation: Suggested Citation
Silva, Francisco and Serra, Daniel, Incorporating Waiting Time in Competitive Location Models: Formulations and Heuristics (May 2008). Available at SSRN: https://ssrn.com/abstract=1143273 or http://dx.doi.org/10.2139/ssrn.1143273
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.