Incorporating waiting time in competitive location models: formulations and heuristics

Francisco Silva and Daniel Serra ()
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Daniel Serra: http://www.econ.upf.edu/en/people/onefaculty.php?id=p591

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

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.

Keywords: Market capture; queuing; ant colony optimization (search for similar items in EconPapers)
JEL-codes: C61 L80 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cmp and nep-ure
Date: Written 2008-05
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