Locational planning on scenario-based networks
More and more frequently locational planners are faced with the problem of decision making under the condition of uncertainty. In this paper a methodological framework is presented for solving Location - Allocation problems, through the application of the multinomial logit model to data derived from the modification of the characteristics of a given network. The study differs from earlier work in two aspects: First, a utility junction, as a measure of relative attractiveness, is implemented, in order to assign realization probabilities to each alternative scenario. Second, the decisions are made through the utilization of two system - performance criteria. The expected loss and the minimax loss criterion of the optimal solution of each future scenario generated by the decision maker during the problem - solving procedure of th e approach.
|Date of creation:||05 May 1992|
|Date of revision:||21 Feb 2010|
|Publication status:||Published in Proceedings of the IV World Congress of the R.S.A.I. 52.1(1992): pp. 87-118|
|Contact details of provider:|| Postal: |
Web page: http://mpra.ub.uni-muenchen.de
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- A Reggiani & S Stefani, 1986. "Aggregation in decisionmaking: a unifying approach," Environment and Planning A, Pion Ltd, London, vol. 18(8), pages 1115-1125, August.
- James G. March, 1978. "Bounded Rationality, Ambiguity, and the Engineering of Choice," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 587-608, Autumn.
- de Palma, Andre & Myers, Gordon M & Papageorgiou, Yorgos Y, 1994. "Rational Choice under an Imperfect Ability to Choose," American Economic Review, American Economic Association, vol. 84(3), pages 419-40, June.
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