Paper #1151

Title:

Median problems in networks

Authors:

Vladimir Marianov and Daniel Serra

Date:

March 2009

Abstract:

The P-median problem is a classical location model “par excellence”. In this paper we, first examine the early origins of the problem, formulated independently by Louis Hakimi and Charles ReVelle, two of the fathers of the burgeoning multidisciplinary field of research known today as Facility Location Theory and Modelling. We then examine some of the traditional heuristic and exact methods developed to solve the problem. In the third section we analyze the impact of the model in the field. We end the paper by proposing new lines of research related to such a classical problem.

Keywords:

P-median, location modelling

JEL codes:

C61, L80

Area of Research:

Business Economics and Industrial Organization

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