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Sequencing Competitive Expansion Projects

Author

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  • Donald Erlenkotter

    (University of California, Los Angeles, California)

  • J. Scott Rogers

    (University of Toronto, Toronto, Ontario)

Abstract

We develop a solution approach for finding the sequencing of a finite set of capacity expansion projects that minimizes total discounted operating and investment costs. Variable operating costs are specified through a general continuous-time function that requires projects to be competitive in a certain sense. This definition for operating costs allows the use of an optimization submodel, such as a multilocation distribution problem, to determine operating decisions. The general formulation includes several simple sequencing problems as special cases. The solution approach addresses a relaxed problem formulation that incorporates economic criteria for determining project timing decisions, and we show that a properly defined solution to the relaxed formulation solves the original problem. We also develop several refinements to the basic solution approach.

Suggested Citation

  • Donald Erlenkotter & J. Scott Rogers, 1977. "Sequencing Competitive Expansion Projects," Operations Research, INFORMS, vol. 25(6), pages 937-951, December.
    • Handle: RePEc:inm:oropre:v:25:y:1977:i:6:p:937-951
    DOI: 10.1287/opre.25.6.937
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    Cited by:

    1. Martin Sola & Marzia Raybaudi & Shasikanta Nandeibam, 2002. "On The Optimal Timing of Introduction of New Products," Department of Economics Working Papers 023, Universidad Torcuato Di Tella.

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