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Consumer choice and optimal locations models: Formulations and heuristics

Author

Listed:
  • Serra, Daniel
  • Colomé, Rosa

Abstract

A new direction of research in competitive location theory incorporates theories of consumer choice behavior in its models. Following this direction, the present article studies the importance of consumer behavior with respect to distance or transportation costs in the optimality of locations obtained by traditional competitive location models. We consider various ways of defining a key parameter in the basic maximum capture model (MAXCAP). This parameter will indicate a number of ways to take distance into account based on several consumer choice behavior theories. The optimal locations and the deviation in demand – captured when the optimal locations of the other models are used instead of the true ones – are computed for each model. We present a metaheuristic based on GRASP and the tabu search procedure to solve all the models. Computational experience and an application to a 55†node network are also presented.

Suggested Citation

Handle: RePEc:eee:paresc:v:80:y:2001:i:4:p:439-464
DOI: 10.1111/j.1435-5597.2001.tb01213.x
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JEL classification:

  • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
  • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
  • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock

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