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Incorporating waiting time in competitive location models: Formulations and heuristics
Silva, Francisco; Serra, Daniel
Universitat Pompeu Fabra. Departament d'Economia i Empresa
In this paper we propose a metaheuristic to solve a new version of the Maximum CaptureProblem. In the original MCP, market capture is obtained by lower traveling distances or lowertraveling time, in this new version not only the traveling time but also the waiting time willaffect the market share. This problem is hard to solve using standard optimization techniques.Metaheuristics are shown to offer accurate results within acceptable computing times.
Operations Management
market capture
ant colony optimization
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Working Paper

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