A simple plant-location model for quantity-setting firms subject to price uncertainty (Q1059549): Difference between revisions
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Revision as of 00:11, 20 March 2024
scientific article
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English | A simple plant-location model for quantity-setting firms subject to price uncertainty |
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A simple plant-location model for quantity-setting firms subject to price uncertainty (English)
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1985
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The uncapacitated plant location problem under uncertainty is formulated in a mean-variance framework with prices in various markets correlated via their response to a common random factor. This formulation results in a mixed-integer quadratic programming problem. However, for a given integer solution, the resulting quadratic programming problem is amenable to a very simple solution procedure. The simplicity of this algorithm means that reasonably large problems should be solvable using existing branch-and-bound techniques.
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uncapacitated plant location
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uncertainty
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mean-variance framework
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mixed-integer quadratic programming
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algorithm
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branch-and-bound
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