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The maximum capture problem with random utilities: Problem formulation and algorithms
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DOI：10.1016/S0377-2217(01)00340-X.png)
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Abstract
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A model for the optimal location of new facilities in a competitive market is introduced under the hypothesis that customers' behavior can be modeled by random utility functions. It means that the company, that wished to locate, uses a random utility model to forecast the market share of a location. Therefore the company cannot forecast the behavior of every customer in a deterministic fashion, but is able to embed him by a probability distribution. Three formulations are proposed to compute upper bounds of the objective function and compared in a numerical simulation. A branch and bound method is developed and tested on examples with up to 50 potential locations, and a Variable Neighborhood Search heuristic is proposed to solve larger instances. (C) 2002 Elsevier Science B.V. All rights reserved.
Keywords:
competitive location
random utility theory
integer fractional programming
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