Maximize One Variable While Minimizing Another?

Solver related questions
VikR
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Maximize One Variable While Minimizing Another?

Postby VikR » 5 months ago

The Solver that comes with Excel can only minimize or maximize a single variable. I have a data set where I need to maximize revenue while minimizing cost and distance. Is it possible to do this in GAMS?

Thanks in advance any info.

VikR
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Joined: 5 months ago

Re: Maximize One Variable While Minimizing Another?

Postby VikR » 5 months ago

I was able to get Excel to solve for multiple variables by:

-- Standardizing all the data
-- Setting the single variable the Excel solver can explicitly maximize, to a cell containing the formula "=Earnings-((Cost+Distance+Time)/3)"

That worked.

I imagine this is as easy (or more likely even easier or better) in GAMS. Is that correct?


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