Article ID: | iaor20117990 |
Volume: | 50 |
Issue: | 4 |
Start Page Number: | 557 |
End Page Number: | 573 |
Publication Date: | Aug 2011 |
Journal: | Journal of Global Optimization |
Authors: | Fernndez J, Garca I, Redondo L, Ortigosa M |
Keywords: | allocation: resources, optimization, cost benefit analysis, heuristics, combinatorial optimization |
We consider a continuous location problem in which a firm wants to set up two or more new facilities in a competitive environment. Both the locations and the qualities of the new facilities are to be found so as to maximize the profit obtained by the firm. This hard‐to‐solve global optimization problem has been addressed in Redondo et al. (2009) using several heuristic approaches. Through a comprehensive computational study, it was shown that the evolutionary algorithm