This paper examines alternative models for the economic optimization of multicomponent distillation columns. Different column representations are modeled involving rigorous Mixed Integer Nonlinear Programming (MINLP) and General Disjunctive Programming (GDP) formulations. The different representations involve various ways of representing the choices for the number of trays and feed tray location. Also, alternatives are considered for modeling the heat exchange when the number of trays of the column must be determinated. A preprocessing procedure developed in a previous paper [Ind. Eng. Chem. Res. (2002a)] is extended in this work to provide good initial values and bounds for the variables involved in the economic models. This initialization scheme increases the robustness and usefulness of the optimization models. Numerical results are reported on problems involving the separation of zeotropic and azeotropic mixtures. Trends about the behavior of the different proposed alternative models are discussed.