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Note---The Single Facility Minimax Distance Problem Under Stochastic Location of Demand

Author

Listed:
  • Robert Carbone

    (Université Laval, Quebec)

  • Abraham Mehrez

    (University of Bengurion, Beersheba, Israel)

Abstract

This note extends the minimum maximum distance single facility location problem to situations where the locations of prospective demand points are considered to be random variables. Two types of decision are analyzed for this setting under the assumption of independent and identical normal distributions with the same means: locating on the basis of an expected value criterion or adopting a wait-and-see policy. Through the concept of the expected value of perfect information (EVPI), it is shown for one-dimensional location decisions that a substantial reduction in maximum distance may be realized by the adoption of a wait-and-see policy.

Suggested Citation

  • Robert Carbone & Abraham Mehrez, 1980. "Note---The Single Facility Minimax Distance Problem Under Stochastic Location of Demand," Management Science, INFORMS, vol. 26(1), pages 113-115, January.
    • Handle: RePEc:inm:ormnsc:v:26:y:1980:i:1:p:113-115
    DOI: 10.1287/mnsc.26.1.113
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    Cited by:

    1. Ling, Aifan & Sun, Jie & Xiu, Naihua & Yang, Xiaoguang, 2017. "Robust two-stage stochastic linear optimization with risk aversion," European Journal of Operational Research, Elsevier, vol. 256(1), pages 215-229.
    2. Dimitris Bertsimas & Xuan Vinh Doan & Karthik Natarajan & Chung-Piaw Teo, 2010. "Models for Minimax Stochastic Linear Optimization Problems with Risk Aversion," Mathematics of Operations Research, INFORMS, vol. 35(3), pages 580-602, August.
    3. Mehrez, A. & Yuan, Y. & Gafni, A., 1995. "The search for information -- A patient perspective on multiple opinions," European Journal of Operational Research, Elsevier, vol. 85(2), pages 244-262, September.

    More about this item

    Keywords

    stochastic location; facility location;

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