Page 1 of 1
Maximize One Variable While Minimizing Another?
Posted: Tue Apr 18, 2017 1:47 am
by VikR
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.
Re: Maximize One Variable While Minimizing Another?
Posted: Thu Apr 20, 2017 11:56 pm
by VikR
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?