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Incorporating waiting time in competitive location models: Formulations and heuristics

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  • Francisco Silva
  • Daniel Serra

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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.

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File URL: http://www.econ.upf.edu/docs/papers/downloads/1091.pdf
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Bibliographic Info

Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 1091.

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Date of creation: May 2008
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Handle: RePEc:upf:upfgen:1091

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Web page: http://www.econ.upf.edu/

Related research

Keywords: Market capture; queuing; ant colony optimization;

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References

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  1. Rosing, K. E. & ReVelle, C. S., 1997. "Heuristic concentration: Two stage solution construction," European Journal of Operational Research, Elsevier, vol. 97(1), pages 75-86, February.
  2. Daniel Serra & Samuel Ratick & Charles Revelle, 1994. "The maximum capture problem with uncertainty," Economics Working Papers 74, Department of Economics and Business, Universitat Pompeu Fabra.
  3. Miquel Carreras & Daniel Serra, 1997. "On optimal location with treshold requirements," Working Papers, Research Center on Health and Economics 220, Department of Economics and Business, Universitat Pompeu Fabra.
  4. Daniel Serra & Charles Revelle, 1994. "Competitive location in discrete space," Economics Working Papers 96, Department of Economics and Business, Universitat Pompeu Fabra.
  5. Daniel Serra & Charles Revelle, 1992. "The PQ-Median problem: Location and districting of hierarchical facilities. Part I," Economics Working Papers 12, Department of Economics and Business, Universitat Pompeu Fabra.
  6. Daniel Serra & Charles Revelle, 1993. "Market capture by two competitors: The pre-emptive location problem," Economics Working Papers 39, Department of Economics and Business, Universitat Pompeu Fabra.
  7. D Serra & H A Eiselt & G Laporte & C S ReVelle, 1999. "Market capture models under various customer-choice rules," Environment and Planning B: Planning and Design, Pion Ltd, London, vol. 26(5), pages 741-750, September.
  8. Daniel Serra & Charles Revelle & Ken Rosing, 1999. "Surviving in a competitive spatial market: The threshold capture model," Economics Working Papers 359, Department of Economics and Business, Universitat Pompeu Fabra.
  9. Helena Ramalhinho-Lourenço & Daniel Serra, 1998. "Adaptive approach heuristics for the generalized assignment problem," Economics Working Papers 288, Department of Economics and Business, Universitat Pompeu Fabra.
  10. Hakimi, S. Louis, 1983. "On locating new facilities in a competitive environment," European Journal of Operational Research, Elsevier, vol. 12(1), pages 29-35, January.
  11. Kohlberg, Elon, 1983. "Equilibrium store locations when consumers minimize travel time plus waiting time," Economics Letters, Elsevier, vol. 11(3), pages 211-216.
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