multi-objective optimization

Enhancing Shopping Centre Profitability through Optimized Tenant Mix and Synergistic Placement

Publication TypeConference Paper
Year of Publication2024
AuthorsGrace Kelly Maureira; F.-Javier Heredia
Conference NameEURO24, 33rd European Conference on Operational Research
Conference Date30/06-3/07/2024
Conference LocationTechnical University of Denmark (DTU), Copenhagen, Denmark.
Type of WorkContributed presentation
Key Wordsresearch; real state; shopping centers; tenant mix; modeling; multi-objective optimization.
AbstractThe strategic allocation of tenants within shopping centers, known as "tenant mix," is crucial for enhancing profitability in the retail sector. This research delves into creating an ideal combination of retail categories and their placement to boost rental income, a primary financial source for mall operators. Utilizing integer linear programming, we propose a model that integrates the concept of tenant synergy at its core—a critical yet underexplored aspect in the literature. This model includes constraints based on the total leasable space available and the strategic distribution of store units. Drawing upon a dataset from 27 shopping centers in Spain, we construct a regression model to estimate base rent, positioning it as the critical component of our objective function to maximize rental income. Additionally, this objective function features a synergy-based scoring system as an extra component, designed to enhance sales revenues and create a balanced retail environment through strategic tenant placement. The e ectiveness of our model is demonstrated through several case studies, highlighting its potential to increase rental income and sales. Our findings o er mall operators a practical tool to optimize vacant spaces, facilitating strategic decision-making in the retail industry.
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A multi-objective approach to infrastructure planning in the early stages of EV introduction

Publication TypeConference Paper
Year of Publication2015
AuthorsCristina Corchero; Andina Brown; Oriol Serch; Miguel Cruz; F.-Javier Heredia
Conference Name27th European Conference on Operational Research
Conference Date12-15/07/2015
Conference LocationGlasgow, UK.
Type of Workinvited
Key Wordsresearch; multi objective optimization; electrical vehicle, charging point location
AbstractThe aim of this study is to address the problem of locating fast charging stations for electric vehicles in the early stages of infrastructure implementation. Despite existence of successful trials and pilot projects, there are barriers preventing the successful development of a private EV market in its present state; investors are reluctant to invest in infrastructure due to the relatively small number of EV users, and conversely consumers are hesitant about purchasing EVs due high prices and a lack of charging infrastructure. It has been identified that introducing fast charging stations can aid this process, in particular by easing users’ concerns about running out of charge before reaching their destination. This study approaches the problem from the perspective of a central planner wishing to install fast charging stations. A multi-objective approach is used to simultaneously consider two conflicting objectives in the optimisation problem: (1) to minimise the distance that potential consumers would need to deviate from their normal journeys in order to reach their nearest fast charging station and (2) to minimise the set up costs associated with the installation of the stations. A mathematical model is formulated and implemented to obtain results for the case study of Barcelona. The optimal solutions are found and used to depict the Pareto front, offering insight into the nature of the trade-offs between the objectives and aiding the decision making process.
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Contribution to the 27th European Conference on Operational Research


EURO2015The 27th European Conference on Operational Research  was held in Glasgow, hosted by the University of Strathclyde, during 12-15 July 2015. I participated in the sessions with the following two works:

The first one, Parallel Proximal Bundle Methods for Stochastic Electricity Market Problems  in collaboration with Mr. Antonio Rengifo, a former student of our Master in Statistics and Operations Research.

The second one, entitled A multi-objective approach to infrastructure planning in the early stages of EV introduction  in collaboration with the Energy Economy group of the Catalonia Institute for Energy Reseach.

In the photography, me (right) with two of the coauthors of the last paper, Dr. Cristina Corchero (left) and Ms. Andina Brown (center).

A multi-objective approach to infrastructure planning in the early stages of EV introduction

Publication TypeTesis de Grau i Màster // BSc and MSc Thesis
Year of Publication2014
AuthorsAndina Rosalia Brown
DirectorF.-Javier Heredia; Cristina Corchero
Tipus de tesiMSc Thesis
TitulacióMaster in Statistics and Operations Research
CentreFaculty of Mathematics and Statistics
Data defensa27/01/2014
Nota // mark9.0
Key Wordsmulti-objective optimization; facility location; electric vehicle; fast charging stations; MSc Thesis
AbstractThis study approaches the problem from the perspective of a central planner wishing to install fast charging stations. A multi-objective approach is used to simultaneously consider two conflicting objectives in the optimisation problem. The first objective is to minimise the distance that potential consumers would need to deviate from their normal journeys in order to reach their nearest fast charging station, and thus minimise the associated inconvenience. The second objective is to minimise the set up costs associated with the installation of the stations, which differ according to the number of facilities installed and their location. These objectives are normalised using a function transformation and then combined into a single objective function. A mathematical model is formulated and implemented using GAMS to obtain results for the case study of Barcelona, building on the existing literature. Using the weighted sums method, multiple Pareto optimal solutions are found by solving for different relative weights combinations applied to the two objectives. These solutions are used to depict the Pareto front, offering insight into the nature of the trade-offs between the objectives and aiding the decision making process. This study develops the existing methodology used for the EV infrastructure problem, and shows how the application of a multi-objective formulation can offer useful insight to decision makers, particularly when preferences are unclear a priori.
DOI / handlehttp://hdl.handle.net/2099.1/20851
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