Locational planning on scenario-based networks

Yorgos Photis ()

MPRA Paper from University Library of Munich, Germany

Abstract: 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.

Keywords: Locational planning; scenario-based; utility function; expected loss (search for similar items in EconPapers)
JEL-codes: D81 F47 R53 (search for similar items in EconPapers)
Date: 1992-05-05, Revised 2010-02-21
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Published in Proceedings of the IV World Congress of the R.S.A.I. 52.1(1992): pp. 87-118

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:21794

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