A conditional β -mean approach to risk-averse stochastic multiple allocation hub location problems

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2024-01-29

Date

2022-01-29

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Source Title

Transportation Research Part E: Logistics and Transportation Review

Print ISSN

1366-5545

Electronic ISSN

1878-5794

Publisher

Elsevier Ltd

Volume

158

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Pages

102602- 1 - 102602- 24

Language

English

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Abstract

This paper addresses risk-averse stochastic hub location problems where the risk is measured using the conditional β -mean criterion. Three variants of the classical multiple allocation hub location problem, namely the p-hub median, the p-hub maximal covering, and the weighted p-hub center problems are studied under demand data uncertainty represented by a finite set of scenarios. Novel mixed-integer linear programming formulations are proposed for the problems and exact algorithms based on Benders decomposition are developed for solving large instances of the problems. A large set of computational tests are conducted so that the efficiency of the proposed algorithms is proved and the effect of various input parameters on the optimal solutions is analyzed.

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